SC ruling: Goodwill eligible for Depreciation

This EY Tax Alert summarizes a recent ruling of the Supreme Court in the case of SMIFS Securities Ltd on the issue of whether goodwill is an intangible asset eligible for depreciation.

August 30, 2012 / 15:30 IST

This EY Tax Alert summarizes a recent ruling of the Supreme Court in the case of SMIFS Securities Ltd on the issue of whether goodwill is an intangible asset eligible for depreciation. The SC held that goodwill falls under the category of 'any other business or commercial right of a similar nature' within the definition of ’intangible asset’ and is eligible for depreciation.

Click on the accompanying attachment for more details..

first published: Aug 30, 2012 03:29 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347