Sec. 32 of the Income-tax Act, 1961 — Depreciation – The assessee filed the Return for the A.Y. 2012-13. During the course of assessment proceedings, it was noticed that the assessee has claimed depreciation of Rs.4,04,44,578/- on goodwill of Rs.16,17,78,313/- through revised Return on 20.06.2013, declaring total income of Rs.28,22,74,360/- after claiming depreciation on goodwill at Rs.4,04,44,578/-, which was not claimed in the original Return. The AO finalized the assessment after disallowance of appreciation on goodwill. CIT(A) deleted the disallowance of depreciation on Goodwill. ITAT, after following its earlier decision for earlier Assessment Years, i.e. 2009-10, 2010-11 and 2011-12, has dismissed the appeal preferred by the Revenue. High Court also dismissed the Tax Appeal of the revenue. Since, the issues involved is completely covered by the decision of Supreme Court in Commissioner of Income Tax, Kolkata v. SMIFS Securities Limited, (2012) 13 SCC 488, SLP of the revenue dismissed. - PR. CIT V/s ZYDUS WELLNESS LTD. - [2020] 269 TAXMAN 057 (SC)