"Goodwill cannot be said to depreciate". Explain the statement? help fastly pls.
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While various intangible assets are enumerated under the Income Tax Act, there is no mention of goodwill as being an asset entitled to depreciation. ... All that we can say is that it is an intangible capital asset as visualised by the Supreme Court in Srinivas Chetty's case
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Answer:
While various intangible assets are enumerated under the Income Tax Act, there is no mention of goodwill as being an asset entitled to depreciation. ... All that we can say is that it is an intangible capital asset as visualised by the Supreme Court in Srinivas Chetty's case
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