Depreciation Eligible on Intangible asset namely Goodwill

KPIT Cummins Global Business Solutions Ltd. Vs ACIT (ITAT Pune) The issue which arises in the present appeal is whether the payment so made by the assessee is in the category of intangible assets which is eligible for claim of depreciation under section 32(1)(ii) of the Act. The Assessing Officer had denied the said claim of assessee on the ground that the said payment did not fall in the category of know-how, patents, copyrights, trademark, license, franchise, etc. The Assessing Officer however, vide para 3.9.1 though admits that at best the payment could be called as goodwill, which ha...