2015 (7) TMI 620 - SCH - Income Tax

Depreciation on goodwill account - Held that - HC examined this issue in the light of legal provisions of the Act and various judgments of the Hon ble Apex Court and finally concluded that specified intangible assets acquired under slump sale agreement were in the nature of business or commercial rights of similar nature specified in section 32(1)(ii) of the Act and were accordingly eligible for depreciation. (2012 (4) TMI 79 - DELHI HIGH COURT Special Leave Petition is dismissed on the ground of delay as well as on merits. - Decided in favour of assessee.