Goodwill is created at the time of amalgamation in books of Transferee Company under pooling of Accounts method as per AS14. This goodwill is to be written off in 5 years i.e. 20% every year. Is this written off portion or entire goodwill admissible as deduction in computing taxable income for the company? Under section 32 (as intengible asset)? Any settled case law?
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