Valuation of goodwill

It is deducted from Future Maintainable profits, and only when it is specifically instructed...no question of deducting dep from Cap employed..

becoz while caluculating goodwill, we create a DUMMY COMPETITOR.. supposing that he has started his business today and at what amount he will get the same assets as we have.....depreciation is only a book entrry it has nothing to do with market value of an asset.....