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Goodwill is an intangible asset. Where a business is taken over by way of amalgamation, the difference between the amount paid for the business and the net worth is treated as goodwill according to the requirements of accounting principles.Goodwill is an intangible asset. Where a business is taken over by way of amalgamation, the difference between the amount paid for the business and the net worth is treated as goodwill according to the requirements of accounting principles.taxmann.com NewsRead More