2016 (2) TMI 1119 - HC - Income Tax

Depreciation on goodwill - Held that - Depreciation can be claimed on goodwill is answered in the affirmative i.e. against the Revenue and in favour of the Assessee by the decision of the Supreme Court in CIT v. Smifs Securities Ltd. 2012 (8) TMI 713 - SUPREME COURT . No substantial question of law arises.

Summary

The Delhi High Court condoned the delay in re-filing the appeal. The court ruled that depreciation can be claimed on goodwill, citing the Supreme Court decision in CIT v. Smifs Securities Ltd. The appeal was dismissed as no substantial question of law arose.