EXLSERVICES.COM (INDIA) PVT. LTD.,NEW DELHI vs. DCIT, LTU, CIRCLE- 1, NEW DELHI

ITA 5436/DEL/2017Status: DisposedITAT Delhi08 March 2021AY 2013-1431 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the disallowance of depreciation on goodwill was not justified. It also directed the deletion of disallowance under Section 14A and allowed the deductibility of education cess.

What were the facts?

The assessee claimed depreciation on goodwill acquired through an asset purchase agreement. The Assessing Officer disallowed this claim, stating the assessee failed to establish the existence and valuation of the goodwill. The CIT(A) confirmed the disallowance.

What were the issues?

Whether depreciation on goodwill acquired through a slump sale is allowable. Whether disallowance under Section 14A is sustainable without proper satisfaction. Whether education cess is deductible.

Which sections of the Income-tax Act were involved?

Section 14A,Section 115JB,Section 234A,Section 234B,Section 234C

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(5)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Income Tax Appellate Tribunal, DELHI ‘I-1’ BENCH,

Before: SHRI N.K. BILLAIYA, & MS. SUCHITRA KAMBLE

For Appellant: Shri Ajay Vohra, Sr. Adv, Shri Neeraj Jain, Adv
For Respondent: Shri Surender Pal, CIT-DR
Hearing: 02.03.2021Pronounced: 08.03.2021

Heard together (3 matters)

ITA No. 8452/DEL/2019
ITA No. 5435/DEL/2017
ITA No. 5436/DEL/2017

Read from the judgment's own cause title. This page is filed under one of them.

PER N.K. BILLAIYA, ACCOUNTANT MEMBER,

ITA No. 5435 and 5436/DEL/2012 are appeals by the assessee

preferred against the orders of the ld. CIT(A)-22, New Delhi dated

16.06.

2017 for A.Y 2012-13 and 2013-14. ITA No. 8452/DEL/2019 is appeal by the assessee preferred against the order dated 26.09.2019

for A.Y 2015-16 framed u/s 143(3) r.w.s 144C(13) of the Income tax

Act, 1961 [hereinafter referred to as 'The Act' for short] pertaining to A.Y 2013-14. 2. At the very outset, the ld. DR strongly objected for hearing of

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 14A

All 15,875 judgments and leading authorities on Section 14A →

Recent GST High Court judgments

Search GST case law →