FREUDENBERG GALA HOUSEHOLD PRODUCT PRIVATE LIMITED ,MUMBAI vs. INCOME TAX OFFICER CIRCLE 15(1)(1), MUMBAI
| आयकर अपील य अ
धकरण यायपीठ, मुंबई |
IN THE INCOME TAX APPELLATE TRIBUNAL
“F” BENCH, MUMBAI
BEFORE SHRI NARENDRA KUMAR BILLAIYA, HON’BLE ACCOUNTANT MEMBER
&
SHRI SANDEEP SINGH KARHAIL, HON’BLE JUDICIAL MEMBER
I.T.A. No. 1124/Mum/2025
Assessment Year: 2012-13
Freudenberg Gala Household
Product Private Limited
B-902, 903, 904, O2 Galleria
Plot No. 23/24 Minerva Industrial Estate
Mulun West
Mumbai - 400080
[PAN: AADCG4345E]
Vs
ITO, Circle - 15(1)(1), Mumbai
अपीलाथ/ (Appellant)
यथ/ (Respondent)
Assessee by :
Ms. Ashwini Bhide/Mr. Nilesh Dhedia, A/Rs
Revenue by :
Ms. Kavita P. Kaushik, Sr. D/R
सुनवाई क तार ख/Date of Hearing : 25/06/2025
घोषणा क तार ख /Date of Pronouncement: 27/06/2025
आदेश/O R D E R
PER NARENDRA KUMAR BILLAIYA, AM:
This appeal by the assessee is preferred against the order dt.
29/01/2025 by NFAC, Delhi [hereinafter “the ld. CIT(A)”] pertaining to AY 2012-13. 2. The grievance of the assessee relates to the disallowance of depreciation on distribution network rights, non-compete rights and on good-will.
3. Representatives were heard at length, case records carefully perused and the relevant documentary evidence brought on record duly considered.
I.T.A. No. 1124/Mum/2025
4.1. A perusal of the above chart clearly shows that under the block tangible assets, comprising of good-will, trade marks, copy rights and patents and non-compete rights, written down value (WDV) as at 31st March, has been shown on which the depreciation has been claimed. The WDV is the broughtforward WDV as on 31/03/2011 which means that the assessee has claimed depreciation on the WDV of the assets there being no addition in the block. Therefore, we do not find any reason why the depreciation on the WDV should be disallowed when the depreciation has been allowed in the assessment year on the same block of assets. We accordingly direct the AO to allow the claim of depreciation. The substantial grievance of the assessee is allowed.
I.T.A. No. 1124/Mum/2025
2. Charging of interest is madatory but consequential, the AO shall charge interest as per the provisions of law and since other grounds were not argued, the same are dismissed as not pressed. 5. In the result, appeal of the assessee is partly allowed. Order pronounced in the Court on 27th June, 2025 at Mumbai. (SANDEEP SINGH KARHAIL) ACCOUNTANT MEMBER
Mumbai, Dated 27/06/2025
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आदेश क तलप अ ेषत /Copy of the Order forwarded to :
अपीलाथ! / The Appellant 2. "यथ! / The Respondent 3. संबं&धत आयकर आयु(त / Concerned Pr. CIT 4. आयकर आयु(त ) अपील ( / The CIT(A)- 5. वभागीय तन&ध ,आयकर अपीलीय अिधकरण, मुंबई /DR,ITAT, Mumbai, 6. गाड. फाई/ Guard file.
आदेशानुसार/ BY ORDER,