Income Tax - Case Law - Commissioner of Income tax Central Circle Versus Manipal Universal Learning P Ltd 2013 7 TMI 169 KARNATAKA HIGH COURT

Depreciation on goodwill business or commercial rights acquired ITAT allowed the depreciaion Held that goodwill is an asset under Explanation 3 b to section 32 1 Therefore the depreciation is leviable even on the goodwil.......... Income Tax - Case Law