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 1, Tirunelveli vs. Rmkv Silks Pvt. Ltd., Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 1622/CHNY/2017[2013-14]Status: DisposedITAT Chennai30 Apr 2018AY 2013-14

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…rm and therefore, the depreciation on goodwill, knowhow is allowable placing reliance on the following decisions: CIT v. Smifs Securities 348 ITR 302 (SC) Hindustan Coca cola Beverages 331 ITR 192 (Del) B.Raveendran Pillai v. CIT 332 ITR 531(Ker.) Areva T&D 345 ITR 421 (Del.) Triune Energy Services P. Ltd. v. DCIT 237 Taxman 230 (Del.) Chowgule & Company P. Ltd. v. Addl. CIT 2016-TIOL-244HC-Mum-IT CLC & Sons Pvt. Ltd. v. ACIT (ITAT Delhi) (Spl. Bench) 3.9 It was further submitted that the explanations 1 to 8 to s. 43(1) of the Act deeming the value of cost of acquisition of assets under such circumstances are…

DCIT Circle 1, Tirunelveli vs. Rmkv Silks Pvt. Ltd., Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 1621/CHNY/2017[2012-13]Status: DisposedITAT Chennai30 Apr 2018AY 2012-13

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…rm and therefore, the depreciation on goodwill, knowhow is allowable placing reliance on the following decisions: CIT v. Smifs Securities 348 ITR 302 (SC) Hindustan Coca cola Beverages 331 ITR 192 (Del) B.Raveendran Pillai v. CIT 332 ITR 531(Ker.) Areva T&D 345 ITR 421 (Del.) Triune Energy Services P. Ltd. v. DCIT 237 Taxman 230 (Del.) Chowgule & Company P. Ltd. v. Addl. CIT 2016-TIOL-244HC-Mum-IT CLC & Sons Pvt. Ltd. v. ACIT (ITAT Delhi) (Spl. Bench) 3.9 It was further submitted that the explanations 1 to 8 to s. 43(1) of the Act deeming the value of cost of acquisition of assets under such circumstances are…

Rm.K.V.Fabrics Private Limited, Tirunelveli vs. DCIT Circle 1(1), Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 1594/CHNY/2017[2013-14]Status: DisposedITAT Chennai30 Apr 2018AY 2013-14

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…rm and therefore, the depreciation on goodwill, knowhow is allowable placing reliance on the following decisions: CIT v. Smifs Securities 348 ITR 302 (SC) Hindustan Coca cola Beverages 331 ITR 192 (Del) B.Raveendran Pillai v. CIT 332 ITR 531(Ker.) Areva T&D 345 ITR 421 (Del.) Triune Energy Services P. Ltd. v. DCIT 237 Taxman 230 (Del.) Chowgule & Company P. Ltd. v. Addl. CIT 2016-TIOL-244HC-Mum-IT CLC & Sons Pvt. Ltd. v. ACIT (ITAT Delhi) (Spl. Bench) 3.9 It was further submitted that the explanations 1 to 8 to s. 43(1) of the Act deeming the value of cost of acquisition of assets under such circumstances are…

Rm.K.V.Silks Private Limited, Tirunelveli vs. DCIT Circle 1, Tirunelveli

In the result, appeal filed by the Revenue in ITA No

ITA 1593/CHNY/2017[2013-14]Status: DisposedITAT Chennai30 Apr 2018AY 2013-14

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyq आयकर अपील सं./Ita No.1621/Chny/2017 "नधा"रण वष" /Assessment Year: 2012-13 Dy. Commissioner Of Income Tax, M/S. Rmkv Silks Pvt. Ltd., Circle-1, Vs. 176F, Trivandrum Road, Tirunelveli. Tirunelveli – 627 003. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.1593/Chny/2017 & Cross Appeal By Revenue In Ita No.1622/Chny/2017 "नधा"रण वष" /Assessment Year: 2013-14 M/S. Rmkv Silks Pvt. Ltd., Vs. Dy. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, Tirunelveli. [Pan: Aafcr 4024B] आयकर अपील सं./Ita No.613/Chny/2018 Cross Appeal By Revenue In Ita No.759/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/S. Rmkv Silks Pvt. Ltd., Vs. Asst. Commissioner Of Income 176F, Trivandrum Road, Tax, Tirunelveli – 627 003. Circle-1, [Pan: Aafcr 4024B] Tirunelveli.

Section 47

…rm and therefore, the depreciation on goodwill, knowhow is allowable placing reliance on the following decisions: CIT v. Smifs Securities 348 ITR 302 (SC) Hindustan Coca cola Beverages 331 ITR 192 (Del) B.Raveendran Pillai v. CIT 332 ITR 531(Ker.) Areva T&D 345 ITR 421 (Del.) Triune Energy Services P. Ltd. v. DCIT 237 Taxman 230 (Del.) Chowgule & Company P. Ltd. v. Addl. CIT 2016-TIOL-244HC-Mum-IT CLC & Sons Pvt. Ltd. v. ACIT (ITAT Delhi) (Spl. Bench) 3.9 It was further submitted that the explanations 1 to 8 to s. 43(1) of the Act deeming the value of cost of acquisition of assets under such circumstances are…

Hospira Healthcare India Private Limited, Chennai vs. DCIT, Chennai

ITA 821/CHNY/2016[2011-12]Status: DisposedITAT Chennai28 Feb 2017AY 2011-12

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George] आयकर अपील सं./I.T.A. No. 821/Mds/2016 "नधा"रण वष" /Assessment Year : 2011-2012

For Appellant: Shri. Ashik Shah and Shri. Sriram Seshadri, C.A
Section 144C

…आयकर अपील"य अ"धकरण, ‘डी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH : CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी अ"ाहम पी. जॉज", लेखा सद"य के सम" । [BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER] आयकर अपील सं./I.T.A. No. 821/Mds/2016 "नधा"रण वष" /Assessment year : 2011-2012 M/s. Hospira Healthcare India Vs The Deputy Commissioner of Private Limited, Income Tax, Sri-Nivas, New No.86, Old No.89, Corporate Circle 2(2) G.N. Chetty Road, Chennai. T. Nagar, Chennai 600 017. [PAN AABCO 2190F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से…

Huntsman International (India) P.Ltd, Mumbai vs. DCIT 10(1)(1), Mumbai

The appeal of the assessee is partly allowed, that of Revenue is dismissed

ITA 5637/MUM/2015[2011-12]Status: DisposedITAT Mumbai31 Jan 2017AY 2011-12

Bench: Shri G.S.Pannu & Shri Amarjit Singhm/S.Huntsman International (India) Private Limited, B-Wing, Lighthall, Hiranandani Business Park, Saki Vihar Road, Mumbai 400 072 Pan: Aaach9149J ...... Appellant Vs. The Dcit, 10(1)(1), Mumbai. .... Respondent The Dcit, 10(1)(1), Mumbai. ..... Appellant

For Appellant: Shri S.N.SoparkarFor Respondent: Shri N.K.Chand
Section 143(3)Section 14ASection 271Section 32Section 32(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “K”, MUMBAI BEFORE SHRI G.S.PANNU, ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, JUDICIAL MEMBER M/s.Huntsman International (India) Private Limited, B-Wing, Lighthall, Hiranandani Business Park, Saki Vihar Road, Mumbai 400 072 PAN: AAACH9149J ...... Appellant Vs. The DCIT, 10(1)(1), Mumbai. .... Respondent The DCIT, 10(1)(1), Mumbai. ..... Appellant Vs. M/s.Huntsman International (India) Private Limited, B-Wing, Lighthall, Hiranandani Business Park, Saki Vihar Road, Mumbai 400 072 PAN: AAACH9149J ...... Appellant Assessee by : Shri S.N.Soparkar Revenue by : Sh…

Container Corporation of India Ltd., New Delhi vs. DCIT, New Delhi

In the result appeal of the revenue is partly allowed

ITA 1876/DEL/2012[2008-09]Status: DisposedITAT Delhi19 Jan 2017AY 2008-09

Bench: Shri I. C. Sudhir & Shri Prashant Maharishicontainer Corporation Of India Ltd, Dcit, C-3, Mathura Road, Opp. Apollo Circle-3(1), Vs. Hospital, New Delhi New Delhi Pan:Aaacc1205A (Appellant) (Respondent) Acit, Container Corporation Of India Ltd, Circle-3(1), C-3, Mathura Road, Opp. Apollo Vs. New Delhi Hospital, New Delhi Pan:Aaacc1205A (Appellant) (Respondent) Container Corporation Of India Ltd, Acit, C-3, Mathura Road, Opp. Apollo Circle-3(1), Vs. Hospital, New Delhi New Delhi Pan:Aaacc1205A (Appellant) (Respondent) Dcit, Container Corporation Of India Ltd, Circle-3(1), C-3, Mathura Road, Opp. Apollo Vs. New Delhi Hospital, New Delhi Pan:Aaacc1205A (Appellant) (Respondent)

For Appellant: Sh. S Krishnan, AdvFor Respondent: Mr. Deepika Mittal, CIT DR
Section 80Section 80I

…olicy documents it is apparent that assessee has acquired a commercial right to operate trains on the Indian Railway Track for 20 years by payment of Rs. 50 crores and which is transferable. The Hon'ble Delhi High Court in case of Areva T&D India Ltd Vs. DCIT 345 ITR 421 has held that intangible assets includes business claims, business information, business records and assets which are invaluable for carrying on the business of the assessee. It was further held that the intangible assets were comparable to a license to carry on the existing business and in Page 12 of 21 absence of such intangible assets it would…

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

In the result, the appeal by the assessee as well as ofthe department are partly allowed for statistical purposes

ITA 615/DEL/2015[2010-11]Status: DisposedITAT Delhi03 Jan 2017AY 2010-11

Bench: Sh. N. K. Saini, Am & Sh. Kuldip Singh, Jm Ita No. 302/Del/2015 : Asstt. Year : 2010-11 Exl Service.Com (India) Pvt. Ltd., Vs Deputy Commissioner Of Income 414, 4Th Floor, Dlf Jasola, Tax, Large Tax Payer Unit, Tower-B, Plot No. 10 & 11, Dda New Delhi District Centre, Jasola, New Delhi-110044 (Appellant) (Respondent) Ita No. 615/Del/2015 : Asstt. Year : 2010-11 Deputy Commissioner Of Income Vs Exl Service.Com (India) Pvt. Ltd., 414, 4Th Floor, Dlf Jasola, Tower- Tax, Circle-1 (Ltu), New Delhi-110017 B, Plot No. 10 & 11, Dda District Centre, Jasola, New Delhi-110044 (Appellant) (Respondent) Pan No. Aaace5174C Assessee By : Sh. Ajay Vohra, Adv. Sh. Abhishek Agarwal, Adv. Revenue By : Sh. Piyush Jain, Cit Dr Date Of Hearing : 07.10.2017 Date Of Pronouncement : 03.01.2017 Order Per N. K. Saini, Am:

For Appellant: Sh. Ajay Vohra, AdvFor Respondent: Sh. Piyush Jain, CIT DR
Section 143(3)Section 92D

…ase and capitalized in the books of the assessee, on which depreciation is allowable. The reliance was placed on the following case laws: " CIT Vs Smifs Securities Ltd. 348 ITR 302 (SC) " Bharti Teletch Ltd. 278 CTR 339 (Del.) " Areva T & D India Ltd. Vs DCIT 345 ITR 421 71. We have considered the submissions of both the parties and perused the material available on the record. In the present case, it is noticed that the ld. DRP directed the AO to allow the depreciation on the goodwill by following the decision of the ITAT wherein the judgment of the Hon’ble Apex Court in the case of CIT Vs Smifs Securities Ltd.…

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

In the result, the appeal by the assessee as well as ofthe department are partly allowed for statistical purposes

ITA 302/DEL/2015[2010-11]Status: DisposedITAT Delhi03 Jan 2017AY 2010-11

Bench: Sh. N. K. Saini, Am & Sh. Kuldip Singh, Jm Ita No. 302/Del/2015 : Asstt. Year : 2010-11 Exl Service.Com (India) Pvt. Ltd., Vs Deputy Commissioner Of Income 414, 4Th Floor, Dlf Jasola, Tax, Large Tax Payer Unit, Tower-B, Plot No. 10 & 11, Dda New Delhi District Centre, Jasola, New Delhi-110044 (Appellant) (Respondent) Ita No. 615/Del/2015 : Asstt. Year : 2010-11 Deputy Commissioner Of Income Vs Exl Service.Com (India) Pvt. Ltd., 414, 4Th Floor, Dlf Jasola, Tower- Tax, Circle-1 (Ltu), New Delhi-110017 B, Plot No. 10 & 11, Dda District Centre, Jasola, New Delhi-110044 (Appellant) (Respondent) Pan No. Aaace5174C Assessee By : Sh. Ajay Vohra, Adv. Sh. Abhishek Agarwal, Adv. Revenue By : Sh. Piyush Jain, Cit Dr Date Of Hearing : 07.10.2017 Date Of Pronouncement : 03.01.2017 Order Per N. K. Saini, Am:

For Appellant: Sh. Ajay Vohra, AdvFor Respondent: Sh. Piyush Jain, CIT DR
Section 143(3)Section 92D

…ase and capitalized in the books of the assessee, on which depreciation is allowable. The reliance was placed on the following case laws: " CIT Vs Smifs Securities Ltd. 348 ITR 302 (SC) " Bharti Teletch Ltd. 278 CTR 339 (Del.) " Areva T & D India Ltd. Vs DCIT 345 ITR 421 71. We have considered the submissions of both the parties and perused the material available on the record. In the present case, it is noticed that the ld. DRP directed the AO to allow the depreciation on the goodwill by following the decision of the ITAT wherein the judgment of the Hon’ble Apex Court in the case of CIT Vs Smifs Securities Ltd.…

Dsst CIT Cir 3(3)(1), Mumbai vs. Ricoh India Ltd, Mumbai

In the result, appeal of the Revenue is dismissed, as above

ITA 4150/MUM/2016[2005-06]Status: DisposedITAT Mumbai29 Nov 2016AY 2005-06

Bench: Shri C.N. Prasad & Shri Manoj Kumar Agarwalassessment Year: 2005-06 Asstt. Commissioner Of Income M/S. Ricoh India Ltd., 801, 8Th Floor, Tax, Circle-3(3)(1), Room No.609, 6Th Floor, Ackruti Star, Aayakar Bhavan, Midc Central Road, Vs. M.K. Road, Near Marol Telephone Mumbai – 400 020 Exchange, Midc, Andheri (East), Mumbai – 400 093 Pan: Aaacr 4151J (Appellant) (Respondent) Present For: Assessee By : Ms. R.M. Madhavi, A.R. Revenue By : Shri Suresh Malik, D.R. Date Of Hearing : 29.11.2016 Date Of Pronouncement : 29.11.2016 O R D E R

For Appellant: Ms. R.M. Madhavi, A.RFor Respondent: Shri Suresh Malik, D.R
Section 32

…he case of Smifs Securities Ltd. (supra) also. Apart therefrom, the CIT(A) has also relied upon the judgments of (i) Hon'ble Kerala High Court in the case of R. Raveendran Pillai, 332 ITR 531; (ii) Hon'ble Delhi High Court in the case of Areva T&D India Ltd., 345 ITR 421; (iii) Hon'ble Delhi High Court in the case of Hindustan Coca Cola Beverages Pvt. Ltd., 331 ITR 192; and (iv) Hon'ble Bombay High Court in the case of Taj Sats Air Catering Ltd. (supra) in holding that goodwill is an intangible asset qualifying for depreciation u/s 32 of the Act. We find no reason to interfere with the aforesaid action of CIT(A),…

Hero Motocorp Limited, New Delhi vs. JCIT, New Delhi

In the result appeal of the assessee in ITA No

ITA 1545/DEL/2015[2010-11]Status: DisposedITAT Delhi24 Oct 2016AY 2010-11

Bench: Sh. I. C. Sudhir & Shri Prashant Maharishihero Motocorp Limited, Jcit, 34, Basant Lok, Vasant Range-1, New Delhi Vs. Vihar, New Delhi Pan: Aaach0812J (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community Vs. New Delhi Centre, Basant Lok, Vasant Vihar, New Delhi-110057 (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. NC Sawain, CIT DR
Section 143Section 143(3)Section 144CSection 92C

…ademarks, licenses or franchises" but must fall in the larger genus of ‗intangible assets‘ related to business, for being eligible for depreciation under that section:  CIT vs. Smifs Securities Ltd.: 348 ITR 302 (SC)  Areva T & D India Ltd. & Ors. vs. DCIT: 345 ITR 421 (Del.)  Triune Energy Services (P) Ltd. vs. DCIT: 237 TAXMAN 0230 (Delhi)  CIT v. MIS Bharti Teletech Ltd.:233 Taxman 238 (Delhi)  CIT v. Hindustan Coca Cola Beverages (P.) Ltd.:[2011] 331 ITR 192 (Del.)  ThyssenKrupp Elevator (India) (P.) Ltd. v. ACIT: 167 TTJ 131 (Delhi - Trib.)  Cosmos Co-op Bank Ltd. v. DCIT: 64 SOT 90 (Pune) k) In view…

Vatsala Shenoy vs. Jt.Commissioner of Income Tax

C.A. No.-001234-001234 - 2012Supreme Court18 Oct 2016
Section 260Section 583(4)(a)

…otherwise, shall be chargeable to tax as the income of the firm, association or body, of the previous year in which the said transfer takes place and, for the purposes of section 48, the fair market value of the asset 4 (1981) 2 SCC 460 : 128 ITR 294 5 (2012) 345 ITR 421 (Delhi High Court) 6 (2016) 130 DTR 0222 (Kar) Page 18 JUDGMENT 18 on the date of such transfer shall be deemed to be the full value of the consideration received or accruing as a result of the transfer.” 19) Second submission of the learned senior counsel for the assessees pertained to the payment of tax on the income which the business earned…

Vatsala Shenoy vs. Jt.Commissioner of Income Tax

C.A. No.-001234-001234 - 2012Supreme Court18 Oct 2016
Section 260Section 583(4)(a)

…otherwise, shall be chargeable to tax as the income of the firm, association or body, of the previous year in which the said transfer takes place and, for the purposes of section 48, the fair market value of the asset 4 (1981) 2 SCC 460 : 128 ITR 294 5 (2012) 345 ITR 421 (Delhi High Court) 6 (2016) 130 DTR 0222 (Kar) Page 18 JUDGMENT 18 on the date of such transfer shall be deemed to be the full value of the consideration received or accruing as a result of the transfer.” 19) Second submission of the learned senior counsel for the assessees pertained to the payment of tax on the income which the business earned…

DCIT Cir 3(3)(2), Mumbai vs. Ricoh India Ltd, Mumbai

In the result, appeal of the Revenue is dismissed, as above

ITA 4700/MUM/2015[2009-10]Status: DisposedITAT Mumbai17 Aug 2016AY 2009-10

Bench: Shri G.S. Pannu & Shri Amarjit Singh: (A.Y : 2009-10) Dcit, Circle-3(3)(2), Vs. M/S. Ricoh India Ltd. 801, 8Th Floor, Ackruti Star, Midc Mumbai (Appellant) Central Road, Nr. Marol Telephone Exchange, Midc, Andheri (E), Mumbai 400 093 (Respondent) Pan : Aaacr4151J

For Appellant: Shri Suresh MalikFor Respondent: Shri A.K. Kardam
Section 143(3)Section 32Section 32(1)(ii)

…he case of Smifs Securities Ltd. (supra) also. Apart therefrom, the CIT(A) has also relied upon the judgments of (i) Hon'ble Kerala High Court in the case of R. Raveendran Pillai, 332 ITR 531; (ii) Hon'ble Delhi High Court in the case of Areva T&D India Ltd., 345 ITR 421; (iii) Hon'ble Delhi High Court in the case of Hindustan Coca Cola Beverages Pvt. Ltd., 331 ITR 192; and (iv) Hon'ble Bombay High Court in the case of Taj Sats Air Catering Ltd. (supra) in 6 M/s. Ricoh India Ltd. holding that goodwill is an intangible asset qualifying for depreciation u/s 32 of the Act. We find no reason to interfere with the af…

M/S Controls & Switchgear Contactors Ltd., New Delhi vs. DCIT, New Delhi

ITA 511/DEL/2011[2007-08]Status: DisposedITAT Delhi22 Jun 2016AY 2007-08

Bench: Hon’Ble, Shri G.D. Agrawal & Shri Kuldip Singh

For Appellant: Shri Anil Bhalla, CAFor Respondent: Shri V.R. Sonbhadra, Senior DR
Section 143(2)Section 32Section 32(1)(ii)

…e facts and circumstances of the case. 7. Ld. AR for the assessee challenging the impugned order passed by the ld. CIT (A) qua ground no.4 contended that assessee’s case is squarely covered by the judgment cited as Areva T and D India Ltd. vs. DCIT – (2012) 345 ITR 421 (Delhi). However, on the other hand, ld. DR relied upon the order passed by the revenue authorities below. 8. Assessee claimed the depreciation on goodwill amounting to Rs.3,44531/- in terms of section 32(1)(ii) of the Act, consisting of ‘Type Test Certification Fees’ and ‘Customer Approval Fees’ but CIT (A) has rejected the contention of the as…

Incap Contract Manufacturing Services P Ltd, Bangalore vs. Commissioner of Income Tax(Appeals)-1, Bangalore

In the result, the appeal of the assessee is allowed for statistical purpose

ITA 1469/BANG/2014[2009-10]Status: DisposedITAT Bangalore09 Mar 2016AY 2009-10

Bench: Shri Abraham P George & Shri Vijay Pal Rao

For Appellant: Shri Chavali Narayan, C.AFor Respondent: Ms. S. Praveena, Addl. CIT (D.R)
Section 32Section 32(1)(ii)

…ded this issue. Therefore, in view of the judgment of Hon'ble jurisdictional High Court, the issue is now covered in favour of the assessee. He has also relied upon the judgment of Hon'ble Delhi High Court in the case of Areva T & D India Ltd. V DCIT (2012) 345 ITR 421 and submitted that in an identical case there was a lump sum sale, the Hon'ble Delhi High Court has held that the intangible assets in the nature of business information, business record, contract, employees and know-how fall in the genus of intangible assets that form part of the tool of trade of assessee facilitating smooth carrying on the…

Elder It Solutions P.Ltd, Mumbai vs. Pr CIT 4, Mumbai

In the result appeal of the assessee is allowed

ITA 2461/MUM/2015[2010-11]Status: DisposedITAT Mumbai16 Dec 2015AY 2010-11
For Appellant: Shri A.V.SondeFor Respondent: Manjunatha R.Swamy
Section 143(3)Section 263

…6.06 crs. The assessee relied upon the following decisions before Tribunal :- i. Techno Shares and Stock Ltd. 327 ITR 323 ii. B. Raveendran Pillai v CIT 332 ITR 531 iii. CIT v Hindustan Coco Cola Beverages P. Ltd. 331 ITR 192 iv. Areva T & D India Ltd. v DCIT 345 ITR 421 During the year under consideration the assessee has continued the claim of depreciation in respect of the above agreement. It was submitted that when the order u/s.263 for A.Y.2009-10 is set aside, the claim for depreciation as allowed is continued for subsequent years as the facts and the agreements in question continue to remain same and the C…