Dismissing the appeal the Court held that the Assessing Officer had considered the action of granting approval and also the valuation report and since the Assessing Officer had examined the aspect of the assessee’s claim during the course of assessment while passing order under section 143(3) he had taken a plausible view sustainable in the eyes of law. It held that the assessee was entitled to claim depreciation under section 32 on goodwill expended at the time of amalgamation. The Assessing Officer had also relied on the decision of the Supreme Court in CIT v. Smifs Securities Ltd., (2012) 348 ITR 302 (SC)  and allowed the depreciation. No substantial question of law.  SLP of revenue was dismissed. (AY. 2015-16, 2016 -17)