Difference of Consideration minus net assets on slump sale acquisition - whether depreciable goodwill under section 32

Facts:

Assessee acquired an entity called Four soft on slump sale basis.Difference between net assets acquired and the purchase consideration was treated as goodwill and depreciation was claimed on the same. AO disallowed the depreciation and claim of goodwill. On appeal CIT(A) reversed the same. On further appeal by revenue - 

Held in favour the assessee that they were entitled to depreciation on goodwill.

Ed. Note: No claim of depreciation on goodwill is possible henceforth due to legislative amendments.

Case: Dy. CIT v. Blujay Solutions (India) (P) Ltd. 2023 TaxPub(DT) 3277 (Hyd-Trib)