CIT v. Manipal Universal Learning (P.) Ltd.
359 ITR 369High Court2013#8109 most cited
What is CIT v. Manipal Universal Learning (P.) Ltd. authority for?
Depreciation is allowable on the amount paid for goodwill, as goodwill is considered an asset under Explanation 3(b) to Section 32(1) of the Income Tax Act. This is because the amount paid represents future profits.
14
judgments rely on this decision, according to BharatTax’s citation analysis of 366,315 Indian tax judgments — from 2017 to 2024.
Also referred to as
CIT v. Manipal Universal Learning (P.) Ltd. · Section 32(1) · Explanation 3(b) · goodwill · depreciation · asset · future profits · CIT v. Smifs Securities Limited
Also reported as
215 Taxmann 151
