from the said certificate that no value for so-called 'self-generated
goodwill' has been assigned by the valuer. Therefore, the claim ... appellant that the said
company RMIPL had self-generated goodwill valuing Rs.2,99,42, 138/- at the time of
amalgamation, is contradictory to facts
Order is self-generated. There is
no restriction under income-tax law on claiming depreciation on self-
generated goodwill once recognized in books. Depreciation under ... Supreme Court.
The only question that arises in respect of a self-generated goodwill is its
"cost". In cases where cost of self
being not referable to such capital asset, and self-created or self-generated goodwill being such asset will be outside the purview of the charging ... irrelevant and inapplicable. Moreover, the argument that if the self-created or self-generated goodwill has cost nothing to the assessee, then the actual cost
being not referable to such capital asset and a self-created or self-
generated goodwill being such an asset, will be outside the purview ... capital
asset can give rise to chargeable gain. Since self-created or self-generated
goodwill is not a capital asset which could be said
asset which is transferred. In the case of a self-created or self-generated goodwill, the assessee incurs no cost in terms of money ... also one which can be improved by investing money. Self-created or self-generated goodwill is not that type of capital asset. Thirdly, even assuming
goodwill.
3.3. On facts and in circumstances, of the case and in law, the Ld.
CIT(A) erred in allowing depreciation on goodwill ... crores (out of
total goodwill of Rs.4.492 crores) as self-generated goodwill without
appreciating that an actual consideration of Rs.43,860 million
self-generated goodwill
which is not acquired but created by the enterprise itself Ind AS 38-
Intangible Assets provides as under:
Internally generated goodwill
.................................
.................................
Hence ... depreciation is normally allowed on the self-generated goodwill
in accounting as it is not an intangible asset".
Thus the erstwhile firm from which
Standard. Such expenditure is often described as
contributing to internally generated goodwill. Internally generated goodwill is not
recognised as an asset because ... assessee or
internally generated. And as per AS-38 no depriciation is available on self
generated goodwill being not intangible asset.
22. In fifth alternative
view these factors as accounting principles, ordinarily no entry of self generated goodwill finds its place in the balance sheet of any trade or business ... instructions of not making any adjustment on account of self created or self-generated goodwill while resorting to global valuation of a business
over
the net assets acquired is recognized as goodwill. The Assessing Officer
therefore held that no goodwill capable of depreciation under section ... amalgamation. The Assessing
Officer further observed that the alleged goodwill represented merely a self-
generated intangible asset and did not constitute any independently
identifiable business
