Special bench of the ITAT held that ,goodwill will fall under the expression ‘or any other business or commercial rights of similar nature’ hence  depreciation is available on genuine goodwill. Followed  CIT v. Smifs Securities Ltd. (2012) 348 ITR 302 (SC) .However the question whether when a firm has been succeeded by a company and net assets of the firm have vested in the company, there is any transfer of goodwill in the real sense and whether the valuation of goodwill done by the assessee is erroneous has to be decided by the Division Bench. Accordingly the matter is sent back to division Bench for disposing off the appeal in above terms.( ITA No.1976/Del/2006, dt. 19.07.2018)(AY , 2001-02)

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