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“depreciation on goodwill”

DepreciationSection 32Section 32346 judgments

The decision most relied on for depreciation on goodwill is CIT v. Smifs Securities Ltd. (348 ITR 302), cited in 540 judgments on BharatTax.

Leading authorities on depreciation on goodwill

CIT v. Smifs Securities Ltd.
348 ITR 302 · 2012 · Supreme Court
540
citing judgments

Goodwill, whether arising from an amalgamation or a slump sale, is an intangible asset eligible for depreciation under Section 32(1) of the Income-tax Act. While the assessee must prove the existence and valuation of such goodwill, it is recognized as a depreciable asset.

Areva T&D India Ltd. v. DCIT
345 ITR 421 · 2012 · High Court
97
citing judgments

Business contracts and commercial rights of similar nature qualify as intangible assets under Section 32(1)(ii) and are eligible for depreciation. The decision also affirms that goodwill is an intangible asset eligible for depreciation.

Additional/Joint/Deputy/Assistant Commissioner of Incometax/Income-tax Officer v. Mylan Laboratories Ltd.
137 Taxmann.com 178 · 2022 · High Court
60
citing judgments

Goodwill arising on amalgamation is entitled to depreciation. This principle is established by multiple High Court decisions.

Beverages 331 ITR 192 (Del) B.Raveendran Pillai v. CIT
237 Taxmann 230 · 2016 · High Court
59
citing judgments

Goodwill arising on amalgamation is an intangible asset qualifying for depreciation under Section 32 of the Income Tax Act.

Ashwin Vanaspati Industries v. CIT
255 ITR 26 · 2002 · High Court
57
citing judgments

Depreciation is allowable on goodwill acquired through the slump sale of a business. When an assessee claims depreciation on the enhanced cost of an asset supported by a registered valuer's report, tax authorities must produce countervailing evidence, such as a departmental valuation report, to challenge it, rather than simply disregarding the expert opinion.

Kerala Vision Ltd. v. ACIT (
35 Taxmann.com 463 · 2013 · ITAT
52
citing judgments

Transactions carried out on the purchase of off-the-shelf software prior to the jurisdictional High Court's decision in CIT v. Samsung Electronics Co. Ltd. (October 15, 2011) are not liable for Tax Deducted at Source (TDS).

Thiru Arooran Sugar Ltd. v. DCIT
350 ITR 324 · 2013 · High Court
44
citing judgments

A deduction for interest expense on borrowed funds used for interest-free advances to group companies is permissible only if the assessee establishes these advances were from surplus funds. The decision further clarifies eligibility for depreciation on intangible assets like non-compete fees, software, goodwill, and commercial rights under section 32(1)(ii), often arising from a slump sale.

Triune Energy Services (P.) Ltd. v. DCIT
65 Taxmann.com 288 · 2016 · High Court
42
citing judgments

When a business is purchased as a going concern, the consideration paid in excess of the value of its tangible assets is classified as goodwill, which is an intangible asset eligible for depreciation without needing a separate valuation.

Judgments citing depreciation on goodwill

M/S. United Breweries Limited, Bangalore vs. Deputy Commissioner of Income-Tax, Circle-7(1)(1), Bengaluru

ITA 1019/BANG/2023[2012-13]Status: DisposedITAT Bangalore31 Jan 2024AY 2012-13

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri K R Vasudevan & Shri Ankur Pai, AdvocatesFor Respondent: Shri D.K. Mishra, CIT DR
Section 143(3)Section 147Section 148

media expenses and TV advertisements 3. The other grounds raised in AY 2020-21 are as under: a) Ground nos. 2 to 6 – Depreciation on Goodwill b) Ground nos. 13 to 18 – Addition in respect of sponsorship expenses c) Ground nos. 20 to 22 – Expenditure on lease rentals 4. Brief ... selected for scrutiny and the assessment was completed by making following disallowances. a) Disallowance u/s. 14A – Rs.22,95,000/- b) Disallowance of depreciation on goodwill – Rs.37,43,081/- c) Expenses made in violation of law and public policy Rs.110,17,99,953/- 9.2 Aggrieved by the order of the Ld.AO

Icici Bank Ltd., Mumbai vs. The Dy CIT -2(3)(1), Mumbai

In the result, appeal filed by the assessee is partly allowed

ITA 738/MUM/2021[2015-16]Status: DisposedITAT Mumbai25 Jan 2024AY 2015-16

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm Icici Bank Ltd. The Dy. Commissioner Of Icici Bank Towers, Income-Tax 2(3)(1) Bandra Kurla Complex, Aaykar Bhavan, Vs. 5Th Floor, Room No.552, Badra (East), Mumbai-400 051 M.K. Road, Mumbai-400 020 (Appellant) (Respondent) Pan No. Aaaci1195H

For Appellant: Ms. Aarti Visanji, advFor Respondent: Shri Manoj Kumar Sinha, DR
Section 115JSection 143(3)Section 144C(3)Section 263Section 36(1)Section 48

Disallowance of mark to market (MTM) losses of ₹134,21,00,000/- holding that it is contingent liability. viii. Disallowance of claim of depreciation on goodwill arising in the books of assessee because of merger ICICI Bank Ltd; A.Y. 2015-16 of Bank of Rajasthan and Anagram Finance Limited

Lupin Ltd., Mumbai vs. The Dy CIT, Circle-3(4), Mumbai

In the result, all the appeals of the assessee and revenue are treated as partly allowed

ITA 1921/MUM/2020[2010-11]Status: DisposedITAT Mumbai25 Jan 2024AY 2010-11

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

Limited Asst. year 2010-11, 2011-12 and 2012-13 7. Next issue urged by the assessee is related to the disallowance of depreciation on goodwill, which arose on account of amalgamation of three companies. It is pertinent to note that the assessee did not claim this depreciation ... return of income. However, it appended a note to the return of income stating that it reserves the right to claim depreciation on goodwill. Accordingly, during the course of assessment proceedings, the assessee claimed depreciation on the good will amount of Rs.21.81 crores. The Assessing Officer rejected the said claim

ACIT, Circle-1(1)(1), Vejalpur, Ahmedabad vs. Aculife Healthcare Pvt. Ltd., Ahmedabad

Accordingly, in light of the above discussion, the Department’s appeal for Assessment Years 2015-16 and 2016-17 are dismissed, and the assessee’s Cross Objections are allowed for the impugned asses...

ITA 790/AHD/2023[2016-17]Status: DisposedITAT Ahmedabad24 Jan 2024AY 2016-17

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Chirag Patel on behalf of Shri HemanshuFor Respondent: Shri Akhilendra Pratap Yadaw, CIT D.R
Section 143(3)Section 263Section 43(6)

also observe that during the course of assessment, the assessee had furnished various factual and legal submissions in respect of its claim of depreciation on goodwill vide submission dated 19- 12-2017, wherein the assessee relied on the case of Smifs Securities 348 ITR 302 (SC) in support ... assessee’s claim of depreciation during the course of assessment proceedings, factually as well as legally, while allowing the assessee’s claim of depreciation on goodwill. 9. Now, the second issue that arises for our consideration is whether the assessee took a view which is legally plausible/sustainable

ACIT, Circle-1(1)(1), Vejalpur, Ahmedabad vs. Aculife Healthcare Pvt. Ltd., Ahmedabad

Accordingly, in light of the above discussion, the Department’s appeal for Assessment Years 2015-16 and 2016-17 are dismissed, and the assessee’s Cross Objections are allowed for the impugned asses...

ITA 789/AHD/2023[2015-16]Status: DisposedITAT Ahmedabad24 Jan 2024AY 2015-16

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Chirag Patel on behalf of Shri HemanshuFor Respondent: Shri Akhilendra Pratap Yadaw, CIT D.R
Section 143(3)Section 263Section 43(6)

also observe that during the course of assessment, the assessee had furnished various factual and legal submissions in respect of its claim of depreciation on goodwill vide submission dated 19- 12-2017, wherein the assessee relied on the case of Smifs Securities 348 ITR 302 (SC) in support ... assessee’s claim of depreciation during the course of assessment proceedings, factually as well as legally, while allowing the assessee’s claim of depreciation on goodwill. 9. Now, the second issue that arises for our consideration is whether the assessee took a view which is legally plausible/sustainable

America Express Services India Ltd., New Delhi vs. DCIT, New Delhi

In the result, both the appeals filed by the assessee are allowed for

ITA 3525/DEL/2014[2005-06]Status: DisposedITAT Delhi09 Jan 2024AY 2005-06

Bench: Shri Shamim Yahya & Shri Anubhav Sharma

For Appellant: Shri Nageshwar Rao, AdvocateFor Respondent: Shri Rajesh Kumar, CIT DR

instead of Rs 80,000,000 on the basis that no goodwill exists in the business acquired. 17. Allowability of depreciation on goodwill That on facts and circumstances of the case and in law, the learned CIT(A) has erred in not appreciating the fact that goodwill purchased ... goodwill to Rs.NIL instead of Rs 80,000,000 on the basis that no goodwill exists in the business acquired. Allowability of depreciation on goodwill 7. That on facts and circumstances of the case and in law, the learned AO has erred in not appreciating the fact that goodwill purchased

M/S. American Express Services India Limited, New Delhi vs. DCIT, New Delhi

In the result, both the appeals filed by the assessee are allowed for

ITA 3447/DEL/2014[2006-07]Status: DisposedITAT Delhi09 Jan 2024AY 2006-07

Bench: Shri Shamim Yahya & Shri Anubhav Sharma

For Appellant: Shri Nageshwar Rao, AdvocateFor Respondent: Shri Rajesh Kumar, CIT DR

instead of Rs 80,000,000 on the basis that no goodwill exists in the business acquired. 17. Allowability of depreciation on goodwill That on facts and circumstances of the case and in law, the learned CIT(A) has erred in not appreciating the fact that goodwill purchased ... goodwill to Rs.NIL instead of Rs 80,000,000 on the basis that no goodwill exists in the business acquired. Allowability of depreciation on goodwill 7. That on facts and circumstances of the case and in law, the learned AO has erred in not appreciating the fact that goodwill purchased

Atos India Private Ltd, Mumbai vs. ACIT 14 (1) (1), Mumbai

In the result, the appeal filed by the assessee stands allowed on the additional grounds

ITA 1576/MUM/2021[2016-17]Status: DisposedITAT Mumbai05 Jan 2024AY 2016-17

Bench: Shri Vikas Awasthy, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleatos India Private Limited V. Acit – 14(1)(1) Unit No. 1401, 14Th Floor Rom No. 481, 4Th Floor Supremus “E" Wing Aayakar Bhavan M.K. Road, Mumbai - 400020 I Think Techno Campus Kanjurmarg (E), Mumbai - 400042 Pan: Aaaco2461J (Appellant) (Respondent) Assessee Represented By : Ms. Chandni Shah & Ms. Riddi Maru Department Represented By : Shri Vachaspati Tripathi

Section 144C(5)

erred in confirming the action of Ld. AO of disallowing the claim of INR 2,55.15,475 on account of depreciation on goodwill transferred from Atos IT Solutions and Services Private Limited ('Atos IT'), on the alleged ground that the goodwill recognised in the books of accounts of Atos

Quess Corp Limited (Successor to Aravon Services Pvt Ltd.), Mumbai vs. Dy CIT 9(1)(2), Mumbai

ITA 1961/MUM/2019[2014-15]Status: DisposedITAT Mumbai05 Jan 2024AY 2014-15
Section 143(3)Section 32(1)Section 40A(2)(b)

Appellant has raised following grounds of appeal: “1.1 The Commissioner of Income Tax (Appeals) - (CIT (A)) erred in upholding the disallowance of depreciation on Goodwill amounting to Rs. 2,47,92,333/- made by the Deputy Commissioner of Income Tax 9(1)(2), Mumbai (hereinafter known as Assessing Officer ... impairment of asset as per Accounting Standard and not actually sold or disposed off. 1.2 The CIT (A) ought to have allowed depreciation on Goodwill amounting to Rs. 2,47,92,333/- as the same is allowable U/s 32(1) when the intangible assets were acquired and paid in past

Bestech India P.Ltd, New Delhi vs. DCIT, Central Circle-1, Faridabad

In the result, the appeals of the assessee in ITA Nos

ITA 2059/DEL/2022[2017-18]Status: DisposedITAT Delhi27 Dec 2023AY 2017-18

Bench: Shri Saktijit Dey & Shri N.K. Billaiya

For Appellant: Shri R.S. Ahuja, CAFor Respondent: Shri Kanv Bali, Sr. DR
Section 14ASection 32(1)

where such language is used, it is alters or changes the law as it earlier stood”. 13. In so far as claim of depreciation on goodwill is concerned, facts on record show that the assessee had entered into the Scheme of Amalgamation which came to be sanctioned ... /2022 has held as under: “3. The Assessment Officer had added a sum of Rs.6,17,30,352/- on account of disallowance of depreciation on goodwill that was created as a result of amalgamation. Aggrieved by the aforesaid, the respondent had preferred an appeal before the CIT (Appeals

Bestech India P.Ltd, New Delhi vs. DCIT, Central Circle 1, Faridabad

In the result, the appeals of the assessee in ITA Nos

ITA 2058/DEL/2022[2016-17]Status: DisposedITAT Delhi27 Dec 2023AY 2016-17

Bench: Shri Saktijit Dey & Shri N.K. Billaiya

For Appellant: Shri R.S. Ahuja, CAFor Respondent: Shri Kanv Bali, Sr. DR
Section 14ASection 32(1)

where such language is used, it is alters or changes the law as it earlier stood”. 13. In so far as claim of depreciation on goodwill is concerned, facts on record show that the assessee had entered into the Scheme of Amalgamation which came to be sanctioned ... /2022 has held as under: “3. The Assessment Officer had added a sum of Rs.6,17,30,352/- on account of disallowance of depreciation on goodwill that was created as a result of amalgamation. Aggrieved by the aforesaid, the respondent had preferred an appeal before the CIT (Appeals

ACIT-2(2)(1), Mumbai vs. M/S. J K Shah Education Pvt Ltd, Mumbai City

ITA 2062/MUM/2023[2016-17]Status: DisposedITAT Mumbai20 Dec 2023AY 2016-17

Bench: Shri Kuldip Singh & Shri Amarjit Singh

For Appellant: Shri Rakesh Joshi, A.RFor Respondent: Shri Ujjawal Kumar Chavan, D.R
Section 143(3)

proceeded to disallow the depreciation claimed by the assessee company primarily for the reason that when the assessee company has already claimed the depreciation on goodwill, which is akin to teaching systems and methods, so the assessee company cannot be allowed to claim the depreciation twice by changing the name ... No.2043/M/2022 for A.Y. 2016-17 which is not applicable to the facts and circumstances of the case being related to issue of depreciation of goodwill which is not the issue before the Bench. Reliance of the Ld. D.R. on the order passed by the Tribunal in case of Arkema Peroxides

ACIT-2(2)(1), Mumbai vs. M/S. J K Shah Education Pvt Ltd, Mumbai

ITA 2061/MUM/2023[2015-16]Status: DisposedITAT Mumbai20 Dec 2023AY 2015-16

Bench: Shri Kuldip Singh & Shri Amarjit Singh

For Appellant: Shri Rakesh Joshi, A.RFor Respondent: Shri Ujjawal Kumar Chavan, D.R
Section 143(3)

proceeded to disallow the depreciation claimed by the assessee company primarily for the reason that when the assessee company has already claimed the depreciation on goodwill, which is akin to teaching systems and methods, so the assessee company cannot be allowed to claim the depreciation twice by changing the name ... No.2043/M/2022 for A.Y. 2016-17 which is not applicable to the facts and circumstances of the case being related to issue of depreciation of goodwill which is not the issue before the Bench. Reliance of the Ld. D.R. on the order passed by the Tribunal in case of Arkema Peroxides

ACIT-2(2)(1), Mumbai vs. M/S. J K Shah Education Pvt Ltd, Mumbai

ITA 2060/MUM/2023[2014-15]Status: DisposedITAT Mumbai20 Dec 2023AY 2014-15

Bench: Shri Kuldip Singh & Shri Amarjit Singh

For Appellant: Shri Rakesh Joshi, A.RFor Respondent: Shri Ujjawal Kumar Chavan, D.R
Section 143(3)

proceeded to disallow the depreciation claimed by the assessee company primarily for the reason that when the assessee company has already claimed the depreciation on goodwill, which is akin to teaching systems and methods, so the assessee company cannot be allowed to claim the depreciation twice by changing the name ... No.2043/M/2022 for A.Y. 2016-17 which is not applicable to the facts and circumstances of the case being related to issue of depreciation of goodwill which is not the issue before the Bench. Reliance of the Ld. D.R. on the order passed by the Tribunal in case of Arkema Peroxides

ACIT-2(2)(1), Mumbai vs. M/S. J K Shah Education Pvt Ltd, Mumbai

ITA 2059/MUM/2023[2013-14]Status: DisposedITAT Mumbai20 Dec 2023AY 2013-14

Bench: Shri Kuldip Singh & Shri Amarjit Singh

For Appellant: Shri Rakesh Joshi, A.RFor Respondent: Shri Ujjawal Kumar Chavan, D.R
Section 143(3)

proceeded to disallow the depreciation claimed by the assessee company primarily for the reason that when the assessee company has already claimed the depreciation on goodwill, which is akin to teaching systems and methods, so the assessee company cannot be allowed to claim the depreciation twice by changing the name ... No.2043/M/2022 for A.Y. 2016-17 which is not applicable to the facts and circumstances of the case being related to issue of depreciation of goodwill which is not the issue before the Bench. Reliance of the Ld. D.R. on the order passed by the Tribunal in case of Arkema Peroxides

Vodafone India Services Pvt. Ltd, Mumbai vs. DCIT Circle-4(1)(2), Ahmedabad

In the result, the appeal of the assessee is allowed

ITA 2241/AHD/2018[2009-10]Status: DisposedITAT Mumbai18 Dec 2023AY 2009-10

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No.2241/Ahd/2018 (निर्धारण वर्ा / Assessment Year: 2009-10) Vodafone India Services बिधम/ Dcit, Central Circle- Pvt. Ltd. 4(1)(2) Vs. Indiabulls Finance Centre, B Wing, 2Nd Floor, Room 1201, 12Th Floor, Tower-1, No.209, Pratyaksh Kar Senapati Bapat Road, Bhavan, Near Elphinstone (West), Polytechnic, Ambawadi, Mumbai-400013. Ahmedabad-380015. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaacz1849D (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Ms. Fereshte Sethna (Adv) Revenue By: Letter Dated 11.10.2023 सुनवाई की तारीख / Date Of Hearing: 10/10/2023 घोषणा की तारीख /Date Of Pronouncement: 18/12/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Appeal Has Been Preferred By The Assessee Company Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)-13, Ahmedabad Dated 31.08.2018, Arising Out Of The Final Assessment Order Passed U/S 143(3)/144C(13) Dated 05.12.2014 For The Assessment Year 2009-10. 2. In The Several Grounds Raised In The Appeal, The Sole Grievance Of The Appellant Is Against The Action Of The Ao/Ld. Cit(A) In Not Allowing The Depreciation Claimed On Goodwill.

For Appellant: Ms. Fereshte Sethna (Adv)For Respondent: Letter dated 11.10.2023
Section 143(1)Section 143(3)Section 144C(15)(b)Section 92C

however, the AO had declined to entertain the additional claim raised by it vide letter dated 14.03.2013 in the course of assessment regarding depreciation on goodwill acquired under slump sale of Call Centre Business (hereinafter as “CCB”) of Vodafone Essar Gujarat Ltd. (hereinafter as “VEGL”). 4. Aggrieved ... action of not entertaining the fresh claim made for depreciation on goodwill in the course of assessment, the appellant preferred an appeal before the Ld. CIT(A). It is noted that, the appellant also filed the following additional evidences in support of the said claim along with a prayer under

Srf Limited, Delhi vs. ACIT, Circle- 1, Ltu, New Delhi

In the result, appeal of the assessee is partly allowed for statistical purposes

ITA 6252/DEL/2019[2015-16]Status: DisposedITAT Delhi20 Nov 2023AY 2015-16

Bench: Shri N.K.Billaiya & Shri Kul Bharat[Assessment Year : 2015-16] Srf Limited, Vs Acit, The Galleria, Dlf Mayur Vihar, Circle-1, Ltu, Unit No.236 & 237, Second Floor, New Delhi. Mayur Place, Noida Link Road, Mayur Vihar, Phase-I Extn., Delhi-110091. Pan-Aaacs0206P Appellant Respondent Appellant By Shri Pradeep Dinodia, Ca, Shri R.K.Kapoor, Adv. & Shri Harish Dhamija, Adv. Respondent By Shri Subhra Jyoti Chakraborty, Cit Dr Date Of Hearing 26.10.2023 Date Of Pronouncement 20.11.2023 Order

Section 115JSection 143(3)Section 234CSection 250(6)Section 271(1)(c)Section 35

addition/ disallowance/ denying deductions amounting to 35,88,28,243/-on account of disallowance of weighted deduction u/s 35(2AB), disallowance of depreciation on Goodwill and claim of balance additional depreciation. Further Ld. CIT(A) has erred in upholding addition/not allowing adjustment to tune ... permit DSIR to quantify the expenditure incurred on in-house research and development facility for the relevant assessment year. 4. Disallowance of depreciation on Goodwill 4.1 The Ld. CIT(A) has erred in law and in facts and in the circumstances of the appellant's case- by upholding the disallowance

Merck Specialities Private Limited, Mumbai vs. The Dy. Commissioner of Income Tax, Circle 7(1)(1), Mumbai

In the result, (a) both the appeals of the assessee are treated as allowed for statistical purposes

ITA 3261/MUM/2022[2016-2017]Status: DisposedITAT Mumbai30 Oct 2023AY 2016-2017

Bench: Shri B.R. Baskaran (Am) & Shri Narender Kumar Choudhry (Jm)

3261/Mum/2022 CO Nos. 18 & 19/Mum/2023 respect of the documents on which reliance was placed by the assessee in support of its claim of depreciation on goodwill. Further, the assessee was also directed to appear before the AO along with all the documents in support of its claim. The AO vide ... amalgamation, we are of the considered view that there is no basis to reject the claim of the assessee in respect of depreciation on goodwill. Particularly, when all the intangibles including the goodwill were nil in the books of the amalgamating subsidiary company for the year ending 31/03/2010. During

Merck Specialiities Private Limited, Mumbai vs. The Dy.Commissioner of Income Tax, Circle 7(1)(1), Mumbai

In the result, (a) both the appeals of the assessee are treated as allowed for statistical purposes

ITA 3260/MUM/2022[2015-16]Status: DisposedITAT Mumbai30 Oct 2023AY 2015-16

Bench: Shri B.R. Baskaran (Am) & Shri Narender Kumar Choudhry (Jm)

3261/Mum/2022 CO Nos. 18 & 19/Mum/2023 respect of the documents on which reliance was placed by the assessee in support of its claim of depreciation on goodwill. Further, the assessee was also directed to appear before the AO along with all the documents in support of its claim. The AO vide ... amalgamation, we are of the considered view that there is no basis to reject the claim of the assessee in respect of depreciation on goodwill. Particularly, when all the intangibles including the goodwill were nil in the books of the amalgamating subsidiary company for the year ending 31/03/2010. During

Dy.CIT, Circle-7(1)(1, Mumbai vs. M/S Merck Specialities Private Limited, Mumbai

In the result, (a) both the appeals of the assessee are treated as allowed for statistical purposes

ITA 3198/MUM/2022[2015-16]Status: DisposedITAT Mumbai30 Oct 2023AY 2015-16

Bench: Shri B.R. Baskaran (Am) & Shri Narender Kumar Choudhry (Jm)

3261/Mum/2022 CO Nos. 18 & 19/Mum/2023 respect of the documents on which reliance was placed by the assessee in support of its claim of depreciation on goodwill. Further, the assessee was also directed to appear before the AO along with all the documents in support of its claim. The AO vide ... amalgamation, we are of the considered view that there is no basis to reject the claim of the assessee in respect of depreciation on goodwill. Particularly, when all the intangibles including the goodwill were nil in the books of the amalgamating subsidiary company for the year ending 31/03/2010. During