EATON POWER QUALITY PRIVATE LTD,PUDUCHERRY vs. DCIT, PONDICHERRY CIRCLE, , PONDICHERRY
In the result, the appeal of the assessee in ITA
ITA 175/CHNY/2019[2012-13]Status: DisposedITAT Chennai20 Oct 2023AY 2012-13
Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A No.175/Chny/2019 िनधा"रण वष" /Assessment Year :2012-2013 Eaton Power Quality Private Vs. The Deputy Commissioner Of Limited, Income Tax, No.2, E.V.R. Street, Pondicherry Circle, Sedarapet, Pondicherry. Puducherry- 605 111. [Pan Aaacc 6943R] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri Vishal Kalra, Advocate ""यथ" क" ओर से /Respondent By : Shri V. Suresh Guduri, Irs, Jcit. : 27.09.2023. सुनवाई क" तारीख/Date Of Hearing घोषणा क" तारीख /Date Of Pronouncement : 20.10.2023 आदेश / O R D E R Per Mahavir Singh:
For Appellant: Shri Vishal Kalra, AdvocateFor Respondent: Shri V. Suresh Guduri, IRS, JCIT
Section 143(3)Section 37
…claim of Noncompete fee (NCF) and other related expenditures are treated as capital expenditure has been examined. In this regard, as already noted in the assessment order, the Hon'ble ITAT, Chennat Bench 'A, in the case of Arkema Peroxides India Ltd. Vs CIT (31 Taxmann.com 4) has held that depreciation is not allowable on Non compete fee paid as consideration to the other party for giving up the right to carry on the business for a period of 5 years. The said order of the Honble ITAT was passed of considering various case laws including the decision of Hon’ble Supreme Court in the case of CIT Vs Coal Shipments P…
