2013 (7) TMI 169

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..... Explanation 3(b) to section 32(1) - Therefore, the depreciation is leviable even on the goodwill - Following decision of CIT v. SMIFS Securities Ltd [2012 (8) TMI 713 - SUPREME COURT] - Decided in favour of Assessee.
N. KUMAR AND B. Manohar, JJ. For the Appellant : K.V. Arvind. For the Respondent : S. Parthasarathi. JUDGMENT:- PER : N. Kumar The Revenue has preferred this appeal challengi .....

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..... nt of Rs.51,63,00,000-00 as reflected in the sale agreement and ICDS Ltd., for purchase of distance learning division?" 3. The assessee has agreed in the sale agreement the price of Rs.51,63,00,000-00 as the value of the SMU agency rights. On the very next day, the assessee has chosen to revalue such rights to Rs.98,73,25,000-00 and claimed depreciation on the revalued rights. The assessing autho .....

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