ACIT, CIRCLE - 1(1), KOLKATA, KOLKATA vs. M/S. LANDIS+GYR LIMITED, SOUTH 24 PARGANAS

PDF · subscribers
ITA 850/KOL/2018Status: DisposedITAT Kolkata16 January 2019AY 2009-102 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 found no infirmity in the CIT(A)'s order as it had followed the Tribunal's own earlier decisions in the assessee's own case for subsequent assessment years. Therefore, the CIT(A)'s decision to allow depreciation on goodwill and intellectual property rights was upheld.

What were the facts?

The Revenue appealed an order of the CIT(A) concerning the assessment year 2009-10. The appeal primarily concerned the CIT(A)'s decision to admit an additional ground and grant depreciation on goodwill and intellectual property rights.

What were the issues?

Whether the CIT(A) was justified in admitting an additional ground for depreciation on goodwill and intellectual property rights and subsequently allowing it.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘D’ BENCH, KOLKATA

Before: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravi

M/s. Landis+Gyr Ltd..……………………................……………………………….…………………...Respondent [PAN : AAACV 9922 B] Appearances by: Shri S. Halder, Sr. DR, appeared on behalf of the Appellant. Shri Rahul Shah and A.K. Patel, Ld. AR, appeared on behalf of the Respondent.. Date of concluding the hearing : January 14, 2019 Date of pronouncing the order : January 16, 2019 ORDER Per J. Sudhakar Reddy, Accountant Member :-

This appeal by the Revenue is directed against the order of the ld. Commissioner of Income Tax (Appeals)-2, Kolkata [hereinafter the ‘ld. CIT(A)’], dated 01.02.2018 passed u/s 143(3)/144C(3) of the Income Tax Act, 1961 (the ‘Act’) for the assessment year 2009-10.

2.

After hearing rival contentions, we find that the sole issue that has to be adjudicated is whether the ld. CIT(A) was justified in admitting additional ground on the issue of depreciation on goodwill and thereafter grants the same and also allowing depreciation on intellectual property rights.

3.

We find that the ld. CIT(A) has followed the order of the Tribunal in the assessee’s own case for the Assessment Year 2010-11 and 2011-12 in and ITA No.619/Kol/2016 passed on 13.09.2017 and granted depreciation on intellectual property rights. Similarly, on the issue of grant of depreciation on goodwill after admitting an additional ground of the assessee, the ld. CIT(A) followed this very order of the Tribunal and allowed the issue.

2 M/s. Landis+Gyr Ltd Assessment Year: 2012-13 4. As ld. CIT(A) has followed the decision of the Tribunal in the assessee’s own case, we find no infirmity in the same on both the issues. 5. In the result, the appeal of the Revenue is dismissed. Kolkata, the 16th January, 2019.

More judgments on Section 144C(3)

All 595 judgments and leading authorities on Section 144C(3) →

Recent GST High Court judgments

Search GST case law →