COROMANDEL INTERNATIONAL LIMITED,HYDERABAD vs. DCIT., CIRCLE-2(2), HYDERABAD

ITA 738/HYD/2025Status: DisposedITAT Hyderabad18 March 2026AY 2015-2016Bench: SHRI VIJAY PAL RAO (Vice President), SHRI MADHUSUDAN SAWDIA (Accountant Member)1 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that the restriction in Goetze (India) Ltd. applies only to the AO and not appellate authorities. It also noted that Explanation 5 to Section 32 allows depreciation even if not claimed in the return. The issue of set-off of loss was restored to the AO for verification.

What were the facts?

The assessee claimed depreciation on goodwill arising from amalgamation and set-off of losses from a specific unit. The Assessing Officer rejected these claims, and the CIT(A) partly allowed the appeal.

What were the issues?

Whether depreciation on goodwill arising from amalgamation is allowable and if a business loss can be set off against other unit profits when not initially claimed in the return.

Which sections of the Income-tax Act were involved?

Section 32,Section 35(2AB),Section 14A,Section 70,Section 47(vii),Section 43(6),Section 143(2),Section 143(3),Section 139

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Income Tax Appellate Tribunal, Hyderabad ‘A’ Bench, Hyderabad

Before: SHRI VIJAY PAL RAO & SHRI MADHUSUDAN SAWDIA

For Appellant: Ms. U. Mini Chandran, CIT-DR

PER MADHUSUDAN SAWDIA, A.M.: This appeal is filed by Coromandel International Limited (“the assessee”), feeling aggrieved by the order passed by the Learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi (“Ld. CIT(A)”) dated 24/02/2025 for the Assessment Year (“A.Y.”) 2015-16. Coromandel International Limited Vs. DCIT

2.

The assessee has raised the following grounds of appeal:

1.

General: a. That on the

The order continues below.

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