Pune ITAT allows depreciation on Goodwill following verdict of Apex Court in Smifs Securities

IT : Where under share sale and purchase agreement assessee purchased 51 per cent shareholding of company 'M' while assigned debts of Rs. 1.35 crores to 'M' for Re. 1 only and subsequently recovered amount was shown and taxed in hand of company 'M', original loss of Rs. 1,34,99,999 was in fact compensation paid to company 'M' for surrendering their 51 per cent share; hence, a capital expenditure