DY. COMMISSIONER OF INCOME TAX, CIRCLE-16(2), HYDERABAD vs. MYLAN LABORATORIES LIMITED (BEING THE AMALGAMATED COMPANY OF THE ASTRIX LABORATORIED LTD ), HYDERABAD

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ITA 1750/HYD/2018Status: DisposedITAT Hyderabad04 October 2019AY 2014-153 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s order, finding merit in the assessee's arguments. The Tribunal noted its consistent stance in favour of the assessee on this issue in prior years.

What were the facts?

The Revenue appealed against the CIT(A)'s order deleting the disallowance of depreciation on technical know-how. The assessee argued that the CIT(A) followed previous Tribunal orders on the same issue for earlier assessment years.

What were the issues?

Whether depreciation on technical know-how (intangible asset) is allowable. Whether the CIT(A) correctly followed previous Tribunal orders on the same issue.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 92CA,Section 250(6)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, HYDERABAD BENCH “A”, HYDERABAD

Before: SMT. P. MADHAVI DEVI & SHRI A. MOHAN ALANKAMONY

For Respondent: Smt. Amisha S Gupt & Sri
Hearing: 26/09/2019Pronounced: 04/10/2019

1 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH “A”, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER

ITA No.1750/Hyd/2018 Assessment Year: 2014-15 DCIT, Vs. Mylan Laboratories Limited, Circle-16(2), (being the amalgamate Aayakar Bhavan, company of Astrix Hyderabad. Laboratories Ltd), Plot No.564/A/22, Road No.92, Jubilee Hills, Hyderabad – 500 033. PAN: AADCM 3491 M (Appellant) (Respondent) Assessee by: Sri K.A. Sai Prasad Revenue by: Smt. Amisha S Gupt & Sri Y.V.S.T. Sai, CIT-DR Date of hearing: 26/09/2019 Date of pronouncement: 04/10/2019 ORDER PER A. MOHAN ALANKAMONY, AM.:

This appeal is filed by the Revenue aggrieved by the order of the Ld. CIT (A)-4, dated 26/06/2018 in appeal No. 0174/DCIT, Circle- 16(2)/17-18/CIT(A)-4/Hyd/18-19 passed U/s. 143(3) r.w.s 92CA and U/s. 250(6) of the Act for the AY 2014-15.

2.

The Revenue has raised three grounds in its appeal however, the crux of the issue is that the Ld. CIT (A) has erred in deleting the

2 disallowance of depreciation towards technical know-how (intangible asset) for Rs. 3,07,54,012/-.

3.

At the outset, the Ld. AR submitted before us that the Ld. CIT (A) had granted relief to the assessee based on the order of the Tribunal on the same issue for the AY 2009-10 vide order dated 25/3/2015. It was further submitted that the Tribunal following its earlier order had granted relief to the assessee for the AY 2012-13 and 2013-14 vide order dated 16/3/2018 in ITA No. 1666/Hyd/2017 and vide order dated 24/10/2018 in ITA No. 814/Hyd/2018 respectively. It was therefore pleaded that for the relevant Assessment Year also the same ratio is applicable and hence the appeal of the revenue may be dismissed. The Ld DR could not confront to the submission of the Ld. AR.

4.

We have heard the rival submissions and carefully perused the materials on record and we find merit in the arguments advanced by the Ld. AR. As stated by the Ld. AR the Tribunal had consistently held the issue in favour of the assessee which the ld. CIT (A) has followed. Therefore, we do not find any infirmity in the order of the Ld. CIT (A) and accordingly the same is upheld.

5.

In the result, appeal of the Revenue is dismissed.

3 Pronounced in the open Court on 04th October, 2019.

Sd/- Sd/- (P. MADHAVI DEVI) (A. MOHAN ALANKAMONY) JUDICIAL MEMBER ACCOUNTANT MEMBER Hyderabad, Dated: 04th October, 2019 OKK Copy to:- 1) Mylan Laboratories Limited, Plot No.564/A/22, Road No.92, Jubilee Hills, Hyderabad – 034. 2) DCIT, Circle-16(2), IT Towers, Hyderabad. 3) Dispute Resolution Panel, Hyderabad 4) The CIT-IV, Hyderabad 5) The DR, ITAT, Hyderabad 6) Guard File

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