Assessee had amalgamated with a company by way of an acquisition/purchase .It claimed depreciation on goodwill being excess amount paid over net value of assets and liabilities . AO disallowed the depreciation.  Tribunal held that in view of AS-14, consideration paid in excess of net value of assets and liabilities of amalgamating company is to be treated as goodwill and; goodwill is an intangible asset and depreciation is allowable thereon. Accordingly  the assessee is  eligible for depreciation on goodwill. (AY. 2014 -15)