2018 (2) TMI 1925

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..... and order of the Tribunal in the case of assessee in different assessment years, we are of the view that the assessee is entitled for depreciation on goodwill. CIT(A) has examined all these facts, and thereafter, allowed the depreciation. CIT(A) has rightly appreciated the controversy and no interference is called for in his order. Accordingly, the appeal of the Revenue is dismissed. - ITA.No. .....

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..... e was selected for scrutiny assessment and notice under section 143(2) was issued and served upon the assessee. On scrutiny of accounts it revealed to ld.AO that the assessee has claimed depreciation of ₹ 4,04,44,578/- on goodwill of ₹ 16,17,78,313/-. The ld.AO has disallowed depreciation on the ground that cost of acquisition of goodwill is NIL and therefore it does not admissible to .....

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..... e in different assessment years, we are of the view that the assessee is entitled for depreciation on goodwill. The ld.CIT(A) has examined all these facts, and thereafter, allowed the depreciation. The ld.CIT(A) has rightly appreciated the controversy and no interference is called for in his order. Accordingly, the appeal of the Revenue is dismissed. 5. In the result, the appeal of the R .....

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