“Goodwill” is an “intangible asset” u/s 32(1)(ii) & eligible for depreciation

CIT vs. Hindustan Coca Cola Beverages Pvt Ltd (Delhi High Court)

The High Court, on hearing an appeal made by the assessee, has held that:

(iii)... any right obtained for carrying on business with effectiveness comes within the sweep of meaning of “intangible asset”. Goodwill, being the positive reputation built by a person over a period of time is of “similar nature” as the other items enumerated in the definition of “intangible assets".

Read full judgement here


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