Areva T&D India Ltd. v. DCIT

345 ITR 421High Court2012#1167 most cited

What is Areva T&D India Ltd. v. DCIT authority for?

Business contracts and commercial rights of similar nature qualify as intangible assets under Section 32(1)(ii) and are eligible for depreciation. The decision also affirms that goodwill is an intangible asset eligible for depreciation.

97

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2015 to 2026.

Also referred to as

Areva T&D India Ltd. v. DCIT · Areva T&D · 345 ITR 421 · Section 32(1)(ii) · depreciation intangible assets · depreciation goodwill · depreciation business contracts · depreciation commercial rights · slump sale · going concern

Sections most often in play

Section 1961Section 32(1)(ii)Section 35(1)(i)Section 35(2AB)Section 90Section 143(3)Section 170Section 234D

Issues it is cited on

business transfer agreementsection 170depreciation on goodwillsection 32(2)section 35(1)(i)section 2(43)section 32(1)(ii)slump salegoing concernsection 31(1)commercial rightsdepreciation on software

Judgments citing Areva T&D India Ltd. v. DCIT

DCIT, Circle-12(1), New Delhi vs. Infrasoft Technologies Ltd., Mumbai

ITA 3475/DEL/2018[2012-13]Status: DisposedITAT Delhi20 Oct 2020AY 2012-13

Bench: Shri R.K. Panda & Shri Kuldip Singh(Through Video Conference)

For Appellant: Shri Manish Shah, CAFor Respondent: Ms. Parul Singh, Senior DR
Section 32

…titled for depreciation on customer contracts also in view of the decision 7 ITA Nos.3475/Del./2018 ITA Nos.3850/Del./2018 ITA Nos.4330/Del./2018 ITA Nos.1637/Del./2019 rendered by the Hon’ble Delhi High Court in case of Areva T&D India Ltd. vs. DCIT (2012) 345 ITR 421 (Delhi). 13. Hon’ble Delhi High Court in Areva T&D India Ltd. (supra) has held that when goodwill in books of account comprises inter alia business claims, business information, business records, contracts, skilled employees & knowhow has been purchased for a consideration to acquire the running business, it is comparable to a licence to carr…

DCIT, Circle-12(1), New Delhi vs. Infrasoft Technologies Ltd., Mumbai

ITA 4330/DEL/2018[2014-15]Status: DisposedITAT Delhi20 Oct 2020AY 2014-15

Bench: Shri R.K. Panda & Shri Kuldip Singh(Through Video Conference)

For Appellant: Shri Manish Shah, CAFor Respondent: Ms. Parul Singh, Senior DR
Section 32

…titled for depreciation on customer contracts also in view of the decision 7 ITA Nos.3475/Del./2018 ITA Nos.3850/Del./2018 ITA Nos.4330/Del./2018 ITA Nos.1637/Del./2019 rendered by the Hon’ble Delhi High Court in case of Areva T&D India Ltd. vs. DCIT (2012) 345 ITR 421 (Delhi). 13. Hon’ble Delhi High Court in Areva T&D India Ltd. (supra) has held that when goodwill in books of account comprises inter alia business claims, business information, business records, contracts, skilled employees & knowhow has been purchased for a consideration to acquire the running business, it is comparable to a licence to carr…

DCIT, Circle-12(1), New Delhi vs. Infrasoft Technologies Ltd., Mumbai

ITA 3850/DEL/2018[2013-14]Status: DisposedITAT Delhi20 Oct 2020AY 2013-14

Bench: Shri R.K. Panda & Shri Kuldip Singh(Through Video Conference)

For Appellant: Shri Manish Shah, CAFor Respondent: Ms. Parul Singh, Senior DR
Section 32

…titled for depreciation on customer contracts also in view of the decision 7 ITA Nos.3475/Del./2018 ITA Nos.3850/Del./2018 ITA Nos.4330/Del./2018 ITA Nos.1637/Del./2019 rendered by the Hon’ble Delhi High Court in case of Areva T&D India Ltd. vs. DCIT (2012) 345 ITR 421 (Delhi). 13. Hon’ble Delhi High Court in Areva T&D India Ltd. (supra) has held that when goodwill in books of account comprises inter alia business claims, business information, business records, contracts, skilled employees & knowhow has been purchased for a consideration to acquire the running business, it is comparable to a licence to carr…

Exlservice.Com (India) Pvt. Ltd., New Delhi vs. DCIT (Ltu), New Delhi

In the result, appeal filed by the learned assessing officer is dismissed

ITA 1708/DEL/2016[2011-12]Status: DisposedITAT Delhi26 Aug 2020AY 2011-12

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing) Dcit(Ltu), Vs. Exl Service.Com (India) Pvt. Circle-1, Ltd, Nbcc Plaza Pusph Vihar, 414, 4Th Floor, Dlf Tower-B, New Delhi Plot No. 10 & 11, Dda District Centre, Jasola, New Delhi Pan: Aaace5174C (Appellant) (Respondent) Exl Service.Com (India) Pvt. Ltd, Vs. Dcit(Ltu), 414, 4Th Floor, Dlf Tower-B, Plot Circle-1, No. 10 & 11, Dda District Nbcc Plaza Pusph Vihar, Centre, Jasola, New Delhi New Delhi Pan: Aaace5174C (Appellant) (Respondent)

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Surendra Pal, CIT DR
Section 143(3)Section 144CSection 92D

…coordinate bench relying on the decision of the honourable Supreme Court in CIT versus Smif securities Ltd (2012) 348 ITR 302 and the decision of the honourable Delhi High Court in case of Areva T & D India Ltd versus Deputy Commissioner Of Income Tax (2012) 345 ITR 421 held that depreciation was admissible on goodwill amounting to ₹ 769,789,365 and dismissed the appeal of the revenue. The learned dispute resolution panel deleted the disallowance following its own direction Page 19 of 23 issued in assessment year 2010 – 11. Therefore, the learned assessing officer is in appeal before us. 39. The learned depart…

DCIT (Ltu), New Delhi vs. M/S. Exl Service.Com (India) Pvt. Ltd., New Delhi

In the result, appeal filed by the learned assessing officer is dismissed

ITA 1482/DEL/2016[2011-12]Status: DisposedITAT Delhi26 Aug 2020AY 2011-12

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing) Dcit(Ltu), Vs. Exl Service.Com (India) Pvt. Circle-1, Ltd, Nbcc Plaza Pusph Vihar, 414, 4Th Floor, Dlf Tower-B, New Delhi Plot No. 10 & 11, Dda District Centre, Jasola, New Delhi Pan: Aaace5174C (Appellant) (Respondent) Exl Service.Com (India) Pvt. Ltd, Vs. Dcit(Ltu), 414, 4Th Floor, Dlf Tower-B, Plot Circle-1, No. 10 & 11, Dda District Nbcc Plaza Pusph Vihar, Centre, Jasola, New Delhi New Delhi Pan: Aaace5174C (Appellant) (Respondent)

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Surendra Pal, CIT DR
Section 143(3)Section 144CSection 92D

…coordinate bench relying on the decision of the honourable Supreme Court in CIT versus Smif securities Ltd (2012) 348 ITR 302 and the decision of the honourable Delhi High Court in case of Areva T & D India Ltd versus Deputy Commissioner Of Income Tax (2012) 345 ITR 421 held that depreciation was admissible on goodwill amounting to ₹ 769,789,365 and dismissed the appeal of the revenue. The learned dispute resolution panel deleted the disallowance following its own direction Page 19 of 23 issued in assessment year 2010 – 11. Therefore, the learned assessing officer is in appeal before us. 39. The learned depart…

Goldmohur Design and Apparel Park Ltd., Mumbai vs. Pr. Comm. of Income Tax - 7, Mumbai

ITA 3971/MUM/2017[2012-13]Status: DisposedITAT Mumbai31 Jul 2020AY 2012-13

Bench: Shri S.Rifaur Rahman & Shri Ravish Soodgoldmohar Design & Pr. Cit-7 R. No. 628, 6Th Floor, Apparel Park Ltd. 145, Goldmohar Mill, Aayakar Bhavan, M.K. Road, Vs. Dada Saheb Phalke Road, Mumbai – 400 020 Dadar (E), Mumbai- 400 014 Pan – Aadcg1613M (Appellant) (Respondent)

For Appellant: Shri Vipul JoshiFor Respondent: Shri. T. Kipgen &
Section 143Section 143(2)Section 143(3)Section 263

…r the rule of nosticur a sociis was to be restricted to intangible assets of the nature of know-how, patents, copyrights, trademarks, licenses, franchisees etc. We find that the Hon‘ble High Court of Delhi in the case of Areva T & D India Ltd. Vs. DCIT (2012) 345 ITR 421 (Del), applying the principle of ejusdem generis, for interpreting the expression "business or commercial rights of similar nature" specified in Sec. 32(1)(ii) of the Act, had observed, that such rights need not answer the description of "knowhow, patents, copyrights, trademarks, licenses or franchises" but must be of a similar nature as the spec…

Mahanadi Coalfields Ltd., Sambalpur vs. DCIT, Circle-2(1), Sambalpur

In the result, appeal of the assessee is partly allowed for

ITA 174/CTK/2018[2015-16]Status: DisposedITAT Cuttack05 Jun 2020AY 2015-16

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अपीऱ सं./Ita No.174/Ctk/2018 (नििाारण वषा / Assessment Year : 2015 - 2016) Mahanadi Coalfields Ltd., Vs. Dcit, Circle-2(1), Sambalpur Jagriti Vihar, Burla, Sambalpur स्थायी ऱेखा सं./Pan No. : Aabcm 5188 P (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधागररती की ओर से /Assessee By : Shri S.S.Podar, Ca राजस्व की ओर से /Revenue By : Shri S.M.Keshkamat, Citdr सुनवाई की तारीख / Date Of Hearing : 15/01/2020 घोषणा की तारीख/Date Of Pronouncement : 05/06/2020 आदेश / O R D E R Per L.P.Sahu, Am :

For Appellant: Shri S.S.Podar, CAFor Respondent: Shri S.M.Keshkamat, CITDR
Section 143(3)Section 14ASection 32Section 35ESection 37Section 37(1)

…enclosed at Page No.170-172 of the P/B- VOL-II. 2.12 The assessee company do here by place reliance on the following judgments which are squarely applicable to the case: 2.13.1. The Hon'ble High Court of Delhi in case of Areva T&D India Ltd vs. DCIT (2012) 345 ITR 421 held that- Applying the principle of ejusdem generis, as specified the interpreting the expression "business or commercial rights of similar nature" specified in s 32(1)(ii) of the Act, it is seen that such rights need not answer the description of 'knowhow, patents, trademarks, licenses. of franchises' but must be of similar nature as the speci…

ACIT, New Delhi vs. M/S. Container Corporation of India Ltd., New Delhi

In the result, appeal of the assessee is allowed in part for statistical purpose and the appeal of the Revenue is dismissed

ITA 6375/DEL/2016[2011-12]Status: DisposedITAT Delhi22 Jan 2020AY 2011-12

Bench: Shri Prashant Maharishi & Shri K.Narasimha Chary

For Appellant: Shri S. Krishnan, Advocate&For Respondent: Ms. Nidhi Srivastava, CIT-DR
Section 32(1)(ii)Section 80I

…for running the container trains on Indian Railways is a “commercial right” and it is eligible for depreciation under section 32(1)(ii) of the Act. In view of this consistent view,and also fortified by the decision of the Hon’ble Delhi High Court reported in 345 ITR 421 in the case of Areva,we hold that commercial rightacquired by the assessee by way of this license for an enduring benefit for a period of 20 years would amount to capital asset and eligible for depreciation under section 32(1)(ii) of the Act. Ground No. 2 of assessee’s appeal is accordingly allowed. 7. Coming to ground No. 3 of assessee’s appeal…

M/S. Container Corporation of India Ltd., New Delhi vs. DCIT, New Delhi

In the result, appeal of the assessee is allowed in part for statistical purpose and the appeal of the Revenue is dismissed

ITA 5860/DEL/2016[2011-12]Status: DisposedITAT Delhi22 Jan 2020AY 2011-12

Bench: Shri Prashant Maharishi & Shri K.Narasimha Chary

For Appellant: Shri S. Krishnan, Advocate&For Respondent: Ms. Nidhi Srivastava, CIT-DR
Section 32(1)(ii)Section 80I

…for running the container trains on Indian Railways is a “commercial right” and it is eligible for depreciation under section 32(1)(ii) of the Act. In view of this consistent view,and also fortified by the decision of the Hon’ble Delhi High Court reported in 345 ITR 421 in the case of Areva,we hold that commercial rightacquired by the assessee by way of this license for an enduring benefit for a period of 20 years would amount to capital asset and eligible for depreciation under section 32(1)(ii) of the Act. Ground No. 2 of assessee’s appeal is accordingly allowed. 7. Coming to ground No. 3 of assessee’s appeal…

DCIT, New Delhi vs. M/S. Container Corporation of India Ltd., New Delhi

In the result, the Revenue’s appeal is dismissed

ITA 2332/DEL/2017[2012-13]Status: DisposedITAT Delhi16 Dec 2019AY 2012-13

Bench: Shri H.S. Sidhu & Dr. B.R.R. Kumar

For Appellant: Ms. Nidhi Srivastava, CIT(DR)For Respondent: Sh. S. Krishnan, Adv
Section 80I

…this license for earningenduring benefit for a period of 20 years would amount to capital asset. It is also observed that this view of Tribunal derives support from decision of Hon’ble Delhi High Court in the case of Areva T&D India Ltd. vs. DCIT reported in 345 ITR 421. 11.1.Under such circumstances respectfully following the same view, we hold intangible asset acquired by assessee is eligible for depreciation @ 25% u/s 32(1)(ii) of the Act. 18 11.2.Accordingly ground raised by assessee stand allowed.” 6.2.1 Respectfully following the above precedent, we hold that assessee is eligible for depreciation @ 25% on…

M/S. Container Corporation of India Ltd., New Delhi vs. DCIT, New Delhi

In the result, the Revenue’s appeal is dismissed

ITA 748/DEL/2017[2012-13]Status: DisposedITAT Delhi16 Dec 2019AY 2012-13

Bench: Shri H.S. Sidhu & Dr. B.R.R. Kumar

For Appellant: Ms. Nidhi Srivastava, CIT(DR)For Respondent: Sh. S. Krishnan, Adv
Section 80I

…this license for earningenduring benefit for a period of 20 years would amount to capital asset. It is also observed that this view of Tribunal derives support from decision of Hon’ble Delhi High Court in the case of Areva T&D India Ltd. vs. DCIT reported in 345 ITR 421. 11.1.Under such circumstances respectfully following the same view, we hold intangible asset acquired by assessee is eligible for depreciation @ 25% u/s 32(1)(ii) of the Act. 18 11.2.Accordingly ground raised by assessee stand allowed.” 6.2.1 Respectfully following the above precedent, we hold that assessee is eligible for depreciation @ 25% on…

ACIT (OSD) Corporate Range 1, Chennai vs. Dorma India P. Ltd., Chennai

In the result appeal filed by

ITA 1666/CHNY/2019[2012-13]Status: DisposedITAT Chennai20 Nov 2019AY 2012-13

Bench: Shri N.R.S. Ganesan & Shri Ramit Kochar

For Appellant: Mr. N.V.Balaji, AdvFor Respondent: Ms.R.Anitha, JCIT
Section 143(3)Section 32

…chment 1). However, the same was inadvertently not claimed by the Company in the computation of taxable income." The assessee company relied on the following case laws:- (i) CIT v. Smifs Securities Ltd., (348 ITR 302)(SC) (ii) Areva T & D India Ltd., v. DCIT (345 ITR 421) (Delhi) (iii) CIT-IV vs. Hindustan Coca Cola Beverages (P) Ltd., (331 ITR 192) (Delhi) The AO asked assessee to submit complete details of depreciation on goodwill claimed by assessee, financial statements of Arc Trends Systems India Private Ltd., and Global Trends System Private Ltd., as on the date of the agreements , complete details of va…

ACIT (OSD) Corporate Range 1, Chennai vs. Dorma India P. Ltd., Chennai

In the result appeal filed by

ITA 1665/CHNY/2019[2011-12]Status: DisposedITAT Chennai20 Nov 2019AY 2011-12

Bench: Shri N.R.S. Ganesan & Shri Ramit Kochar

For Appellant: Mr. N.V.Balaji, AdvFor Respondent: Ms.R.Anitha, JCIT
Section 143(3)Section 32

…chment 1). However, the same was inadvertently not claimed by the Company in the computation of taxable income." The assessee company relied on the following case laws:- (i) CIT v. Smifs Securities Ltd., (348 ITR 302)(SC) (ii) Areva T & D India Ltd., v. DCIT (345 ITR 421) (Delhi) (iii) CIT-IV vs. Hindustan Coca Cola Beverages (P) Ltd., (331 ITR 192) (Delhi) The AO asked assessee to submit complete details of depreciation on goodwill claimed by assessee, financial statements of Arc Trends Systems India Private Ltd., and Global Trends System Private Ltd., as on the date of the agreements , complete details of va…

ACIT (OSD) Corporate Range 1, Chennai vs. Dorma India P. Ltd., Chennai

In the result appeal filed by

ITA 1664/CHNY/2019[2010-11]Status: DisposedITAT Chennai20 Nov 2019AY 2010-11

Bench: Shri N.R.S. Ganesan & Shri Ramit Kochar

For Appellant: Mr. N.V.Balaji, AdvFor Respondent: Ms.R.Anitha, JCIT
Section 143(3)Section 32

…chment 1). However, the same was inadvertently not claimed by the Company in the computation of taxable income." The assessee company relied on the following case laws:- (i) CIT v. Smifs Securities Ltd., (348 ITR 302)(SC) (ii) Areva T & D India Ltd., v. DCIT (345 ITR 421) (Delhi) (iii) CIT-IV vs. Hindustan Coca Cola Beverages (P) Ltd., (331 ITR 192) (Delhi) The AO asked assessee to submit complete details of depreciation on goodwill claimed by assessee, financial statements of Arc Trends Systems India Private Ltd., and Global Trends System Private Ltd., as on the date of the agreements , complete details of va…

Dy. Commissioner of Income Tax, Circle-16(2), Hyderabad vs. Mylan Laboratories Limited, Hyderabad

In the result, appeal of the assessee is partly allowed

ITA 12/HYD/2019[2014-15]Status: DisposedITAT Hyderabad13 Nov 2019AY 2014-15

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

For Respondent: Sh. YVST Sai, D.R
Section 251Section 28Section 32Section 32(1)Section 37(1)Section 43(1)Section 68

…4. Zuari Cement Ltd., TS-5823-ITAT-2016 (Hyd. Trib.) 5. MTANDT Rentals Ltd., TS-7175-ITAT-2018 ( Hyd. Trib.) 6. Dr. Reddy’s Laboratories Ltd., 78 Taxmann.com 63 (Hyd.Trib.) 7. Cosmos Cooperative Bank Ltd., TS-47-ITAT-2014 (Pune Trib.) 8. Areva T&D India Ltd. 345 ITR 421 (Del.) 9. Triune Energy Services (P) Ltd., 237 Taxmann 230 (Del.) 10. CLC & sons Pvt. Ltd., 95 Taxmann.com 219 (ITAT-Del.-SB) 11. Volvo India Pvt. Ltd., IT(TP)A No. 1537/Bang/2012. 14.1 The decisions relied upon by the ld. DR are all decisions of coordinate benches of the Tribunal and also are all distinguishable on facts. Respectfully following…

Mylan Laboratories Limited, Hyderabad vs. Dy. Commissioner of Income Tax, Circle-16(2), Hyderabad

In the result, appeal of the assessee is partly allowed

ITA 2335/HYD/2018[2014-15]Status: DisposedITAT Hyderabad13 Nov 2019AY 2014-15

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

For Respondent: Sh. YVST Sai, D.R
Section 251Section 28Section 32Section 32(1)Section 37(1)Section 43(1)Section 68

…4. Zuari Cement Ltd., TS-5823-ITAT-2016 (Hyd. Trib.) 5. MTANDT Rentals Ltd., TS-7175-ITAT-2018 ( Hyd. Trib.) 6. Dr. Reddy’s Laboratories Ltd., 78 Taxmann.com 63 (Hyd.Trib.) 7. Cosmos Cooperative Bank Ltd., TS-47-ITAT-2014 (Pune Trib.) 8. Areva T&D India Ltd. 345 ITR 421 (Del.) 9. Triune Energy Services (P) Ltd., 237 Taxmann 230 (Del.) 10. CLC & sons Pvt. Ltd., 95 Taxmann.com 219 (ITAT-Del.-SB) 11. Volvo India Pvt. Ltd., IT(TP)A No. 1537/Bang/2012. 14.1 The decisions relied upon by the ld. DR are all decisions of coordinate benches of the Tribunal and also are all distinguishable on facts. Respectfully following…

Shree Gavi Siddeshwara Minerals, Bangalore vs. Deputy Commissioner of Inocme Tax Central Circle-1(2), Bangalore

ITA 514/BANG/2019[2014-15]Status: DisposedITAT Bangalore20 Sept 2019AY 2014-15

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

Section 143(3)Section 147Section 148Section 234BSection 234DSection 263

…this license for earning enduring benefit for a period of 20 years would amount to capital asset. It is also observed that this view of Tribunal derives support from decision of Hon'ble Delhi High Court in the case of Areva T&D India Ltd. vs. DCIT reported in 345 ITR 421. Under such circumstances respectfully following the same view, we hold that the intangible asset acquired by assessee is eligible for depreciation @ 25% u/s 32(1)(ii) of the Act." The Learned DR has relied on the decision of Hon'ble ITAT Cuttak Bench in the case of Mahanadi Coalfields Ltd vs DCIT in ITA 325 & 377/Ctk/2013 dt.19,03.2018 wherein t…

Shree Gavi Siddeshwara Minerals, Bangalore vs. Deputy Commissioner of Inocme Tax Central Circle-1(2), Bangalore

ITA 513/BANG/2019[2012-13]Status: DisposedITAT Bangalore20 Sept 2019AY 2012-13

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

Section 143(3)Section 147Section 148Section 234BSection 234DSection 263

…this license for earning enduring benefit for a period of 20 years would amount to capital asset. It is also observed that this view of Tribunal derives support from decision of Hon'ble Delhi High Court in the case of Areva T&D India Ltd. vs. DCIT reported in 345 ITR 421. Under such circumstances respectfully following the same view, we hold that the intangible asset acquired by assessee is eligible for depreciation @ 25% u/s 32(1)(ii) of the Act." The Learned DR has relied on the decision of Hon'ble ITAT Cuttak Bench in the case of Mahanadi Coalfields Ltd vs DCIT in ITA 325 & 377/Ctk/2013 dt.19,03.2018 wherein t…

Shree Gavi Siddeshwara Minerals, Bangalore vs. Deputy Commissioner of Inocme Tax Central Circle-1(2), Bangalore

ITA 512/BANG/2019[202-13]Status: DisposedITAT Bangalore20 Sept 2019

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

Section 143(3)Section 147Section 148Section 234BSection 234DSection 263

…this license for earning enduring benefit for a period of 20 years would amount to capital asset. It is also observed that this view of Tribunal derives support from decision of Hon'ble Delhi High Court in the case of Areva T&D India Ltd. vs. DCIT reported in 345 ITR 421. Under such circumstances respectfully following the same view, we hold that the intangible asset acquired by assessee is eligible for depreciation @ 25% u/s 32(1)(ii) of the Act." The Learned DR has relied on the decision of Hon'ble ITAT Cuttak Bench in the case of Mahanadi Coalfields Ltd vs DCIT in ITA 325 & 377/Ctk/2013 dt.19,03.2018 wherein t…

Shree Gavi Siddeshwara Minerals, Bangalore vs. Deputy Commissioner of Inocme Tax Central Circle-1(2), Bangalore

ITA 511/BANG/2019[2011-12]Status: DisposedITAT Bangalore20 Sept 2019AY 2011-12

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

Section 143(3)Section 147Section 148Section 234BSection 234DSection 263

…this license for earning enduring benefit for a period of 20 years would amount to capital asset. It is also observed that this view of Tribunal derives support from decision of Hon'ble Delhi High Court in the case of Areva T&D India Ltd. vs. DCIT reported in 345 ITR 421. Under such circumstances respectfully following the same view, we hold that the intangible asset acquired by assessee is eligible for depreciation @ 25% u/s 32(1)(ii) of the Act." The Learned DR has relied on the decision of Hon'ble ITAT Cuttak Bench in the case of Mahanadi Coalfields Ltd vs DCIT in ITA 325 & 377/Ctk/2013 dt.19,03.2018 wherein t…