CIT v. Hindustan Coca Cola Beverages P Ltd.

331 ITR 192High Court2011#652 most cited

What is CIT v. Hindustan Coca Cola Beverages P Ltd. authority for?

The Principal Commissioner of Income Tax cannot exercise revisional jurisdiction under Section 263 if the Assessing Officer has taken one of two possible views on a debatable issue during assessment proceedings.

152

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2011 to 2026.

Also referred to as

CIT v. Hindustan Coca Cola Beverages P Ltd. · Section 263 · revisional jurisdiction · debatable issue · two possible views · AO's accepted view · PCIT powers · erroneous assessment · lack of enquiry · 331 ITR 192

Also reported as

198 Taxmann 1049 Taxmann.com 104

Sections most often in play

Section 57(iv)Section 56(2)(viii)Section 10(37)Section 263Section 143(3)Section 145A(b)Section 45(5)Section 145A

Issues it is cited on

section 145bsection 45(5)section 57(iv)section 56(2)(viii)section 145a(b)section 10(37)enhanced compensationsection 145acompulsory acquisitionsection 264lack of enquirysection 143(3a)

Judgments citing CIT v. Hindustan Coca Cola Beverages P Ltd.

M/S. Dabur India Ltd., New Delhi vs. Addl.CIT, New Delhi

In the result, the appeals filed by the Revenue are partly allowed and the appeals filed by the assessee are partly allowed for statistical purposes

ITA 6525/DEL/2014[2008-09]Status: DisposedITAT Delhi18 Feb 2021AY 2008-09

Bench: Shri R.K. Panda & Ms Suchitra Kamble

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri Anupam Kant Garg, CIT-DR
Section 115JSection 143(1)Section 143(2)Section 143(3)Section 80GSection 80ISection 92CSection 92E

…(2012) 348 ITR 302 (SC); 2) Areva T and D India Ltd. v. DCIT: 345 ITR 421 (Del); 3) Triune Energy Services Private Limited vs. DCIT: 237 Taxman 230 (Del); 4) Zydus Wellness Ltd: [2017] 87 taxmann.com 82 (Guj); 5) CIT v. Hindustan Coca-Cola Beverages (P) Ltd.: 331 ITR 192 (Del.) - SLP filed by revenue has been dismissed by the Supreme Court in SLP No. 26151/2011; 6) PCIT vs. Ricoh India Ltd: ITA No. 1127 of 2017 (Bom HC); 7) B. Raveendran Pillai: 332 ITR 531 (Ker.); 8) CIT v. Manipal Universal Learning (P.) Ltd : 215 Taxman 151 (Kar.); 9) Pr. CIT v. Swastik Industries: 240 Taxman 510 (Guj); 10) ACIT vs. M/s Birla…

DCIT, New Delhi vs. M/S. Dabur India Ltd., New Delhi

In the result, the appeals filed by the Revenue are partly allowed and the appeals filed by the assessee are partly allowed for statistical purposes

ITA 6256/DEL/2014[2008-09]Status: DisposedITAT Delhi18 Feb 2021AY 2008-09

Bench: Shri R.K. Panda & Ms Suchitra Kamble

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri Anupam Kant Garg, CIT-DR
Section 115JSection 143(1)Section 143(2)Section 143(3)Section 80GSection 80ISection 92CSection 92E

…(2012) 348 ITR 302 (SC); 2) Areva T and D India Ltd. v. DCIT: 345 ITR 421 (Del); 3) Triune Energy Services Private Limited vs. DCIT: 237 Taxman 230 (Del); 4) Zydus Wellness Ltd: [2017] 87 taxmann.com 82 (Guj); 5) CIT v. Hindustan Coca-Cola Beverages (P) Ltd.: 331 ITR 192 (Del.) - SLP filed by revenue has been dismissed by the Supreme Court in SLP No. 26151/2011; 6) PCIT vs. Ricoh India Ltd: ITA No. 1127 of 2017 (Bom HC); 7) B. Raveendran Pillai: 332 ITR 531 (Ker.); 8) CIT v. Manipal Universal Learning (P.) Ltd : 215 Taxman 151 (Kar.); 9) Pr. CIT v. Swastik Industries: 240 Taxman 510 (Guj); 10) ACIT vs. M/s Birla…

M/S. Dabur India Ltd., New Delhi vs. Addl.CIT, New Delhi

In the result, the appeals filed by the Revenue are partly allowed and the appeals filed by the assessee are partly allowed for statistical purposes

ITA 3241/DEL/2014[2007-08]Status: DisposedITAT Delhi18 Feb 2021AY 2007-08

Bench: Shri R.K. Panda & Ms Suchitra Kamble

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri Anupam Kant Garg, CIT-DR
Section 115JSection 143(1)Section 143(2)Section 143(3)Section 80GSection 80ISection 92CSection 92E

…(2012) 348 ITR 302 (SC); 2) Areva T and D India Ltd. v. DCIT: 345 ITR 421 (Del); 3) Triune Energy Services Private Limited vs. DCIT: 237 Taxman 230 (Del); 4) Zydus Wellness Ltd: [2017] 87 taxmann.com 82 (Guj); 5) CIT v. Hindustan Coca-Cola Beverages (P) Ltd.: 331 ITR 192 (Del.) - SLP filed by revenue has been dismissed by the Supreme Court in SLP No. 26151/2011; 6) PCIT vs. Ricoh India Ltd: ITA No. 1127 of 2017 (Bom HC); 7) B. Raveendran Pillai: 332 ITR 531 (Ker.); 8) CIT v. Manipal Universal Learning (P.) Ltd : 215 Taxman 151 (Kar.); 9) Pr. CIT v. Swastik Industries: 240 Taxman 510 (Guj); 10) ACIT vs. M/s Birla…

DCIT, New Delhi vs. M/S. Dabur India Ltd., New Delhi

In the result, the appeals filed by the Revenue are partly allowed and the appeals filed by the assessee are partly allowed for statistical purposes

ITA 3114/DEL/2014[2007-08]Status: DisposedITAT Delhi18 Feb 2021AY 2007-08

Bench: Shri R.K. Panda & Ms Suchitra Kamble

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri Anupam Kant Garg, CIT-DR
Section 115JSection 143(1)Section 143(2)Section 143(3)Section 80GSection 80ISection 92CSection 92E

…(2012) 348 ITR 302 (SC); 2) Areva T and D India Ltd. v. DCIT: 345 ITR 421 (Del); 3) Triune Energy Services Private Limited vs. DCIT: 237 Taxman 230 (Del); 4) Zydus Wellness Ltd: [2017] 87 taxmann.com 82 (Guj); 5) CIT v. Hindustan Coca-Cola Beverages (P) Ltd.: 331 ITR 192 (Del.) - SLP filed by revenue has been dismissed by the Supreme Court in SLP No. 26151/2011; 6) PCIT vs. Ricoh India Ltd: ITA No. 1127 of 2017 (Bom HC); 7) B. Raveendran Pillai: 332 ITR 531 (Ker.); 8) CIT v. Manipal Universal Learning (P.) Ltd : 215 Taxman 151 (Kar.); 9) Pr. CIT v. Swastik Industries: 240 Taxman 510 (Guj); 10) ACIT vs. M/s Birla…

The Commissioner of Income-Tax vs. M/S Hewlett Packard India Sales Pvt Ltd

In the result, we do not find any merit in this

ITA/250/2011HC Karnataka30 Nov 2020

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

Section 143(1)Section 143(2)Section 260Section 260ASection 271Section 3Section 32(1)(ii)

…1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 30TH DAY OF NOVEMBER 2020 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE H.T.NARENDRA PRASAD I.T.A. NO.250 OF 2011 BETWEEN: 1. THE COMMISSIONER OF INCOME-TAX JSS TOWERS BSK III STAGE BANGALORE. 2. THE ASSISTANT COMMISSIONER OF INCOME-TAX CIRCLE - 11(2) JSS TOWERS BSK III STAGE BANGALORE. ... APPELLANTS (BY SRI.K.V.ARAVIND, ADV.,) AND: M/S HEWLETT PACKARD INDIA SALES PVT. LTD. (FORMERLY COMPAQ COMPUTERS INDIA P. LTD.) NO.24, SALARPURIA ARENA HOSUR MAIN ROAD ADUGODI BANGALORE - 560 030. ... R…

American Express Services India Ltd., New Delhi vs. Deputy Commissioner of Income-Tax, New Delhi

In the result, appeal of the assessee is allowed

ITA 1982/DEL/2015[2010-11]Status: DisposedITAT Delhi21 Oct 2020AY 2010-11

Bench: Ms. Sushma Chowla, Vp & Shri R.K. Panda, Am [Through Video Conferencing] आयकर अपील सं आयकर अपील सं. / Ita No. 1982/Del/2015 आयकर अपील सं आयकर अपील सं िनधा"रण वष" िनधा"रण वष" / Assessment Year: 2010-11 िनधा"रण वष" िनधा"रण वष" M/S. American Express Services India Private Limited (Earlier Known As American Express Services India Limited), Metropolitan Saket, 7Th Floor, Office Block, District Centre, Saket, New Delhi-110017 .............अपीलाथ"/Appellant Pan-Aabct0555D Vs The Dcit, Circle-2(2), Central Revenue Building, …………. ""यथ" / Respondent New Delhi अपीलाथ" क" ओर से / Appellant By: Sh. Nageshwar Rao, Advcate & Sh S. Chakrabarty, Ar ""यथ" क" ओर से / Respondent By: Sh. Anupam Kant Garg, Cit-Dr सुनवाई क" तारीख / घोषणा क" तारीख / Date Of Hearing : 17.09.2020 Date Of Pronouncement: 21.10.2020 आदेश आदेश / Order आदेश आदेश Per Sushma Chowla, Vp This Appeal Filed By The Assessee Is Against The Final Assessment Order Dated 28.01.2015, Relating To Assessment Year 2010-11 Passed Under Section 143(3) R.W.S. 144C Of The Income Tax Act, 1961 (In Short “The Act”).

For Appellant: Sh. Nageshwar Rao, Advcate, &For Respondent: Sh. Anupam Kant Garg, CIT-DR
Section 143(3)

…at so far as the question about admissibility of depreciation of Acquired Business Database is concerned, this issue is covered in favour of the assessee by the judgment of Hon’ble Delhi High Court in the case of CIT vs. Hindustan Coca Cola Beverages Pvt Ltd (331 ITR 192), wherein, Their Lordships, inter alia, have observed that “It is worth noting, the scope of section 32 has been widened by the Finance (No. 2) Act, 1998 whereby depreciation is now allowed on intangible assets acquired on or after 1st April, 1998. As per section 32(1)(ii), depreciation is allowable in respect of know-how, patents, copyrights, tr…

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

…onsideration. In fact, the judicial pronouncements relied upon by the ld. A.R to drive home his aforesaid claim, viz. (i) DIT(IT) Vs. HSBC Asset Management (I) P. Ltd. (2014) 47 taxman.com 286 (Bom); (ii) CIT Vs. Hindustan Coca Cola Beverages Pvt. Ltd. (2011) 331 ITR 192 (Del); (iii) PIEM Hotels Ltd. Vs. DCIT (2011) 128 ITD 275 (Mum); and (iv) Century Enka Ltd. Vs. DCIT (2015) 37 ITR (T) 644 (Kol), are all distinguishable on facts. On a perusal of the aforesaid respective orders, we find that in neither of the said cases the depreciation allowed in the preceding year was subsequently withdrawn, as a result whereo…

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)

…59.10 crores, which is in the nature of intangible assets entitled to claim of depreciation u/e 32(1)(ii) of the IT Act. A photocopy of the Judgment is enclosed at Page No.ll0-119 of the P/B- VOl-I1I. 17 2.13.4 CIT v. Hindustan Coca Cola Beverages (P) Ltd., 331 ITR 192 (Del) where it is held that GOODWILL is an intangible asset . A photocopy of 'the judgment is enclosed at Page No.210-232 of the P/B-VOl-I1. 2.13.5 CIT Vs. MIS Bharti Teletech Ltd. (2015) 119 DTR 139 (Del.) (HC) ITA No.534 & 510/JP/2017. In this case the amount paid to acquire network and the facilities was held to be Intangible Asset. A photocop…

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

…e 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 valuation of purchase consideration of the said companies, mode and details of p…

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

…e 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 valuation of purchase consideration of the said companies, mode and details of p…

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

…e 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 valuation of purchase consideration of the said companies, mode and details of p…

M/S. Aricent Technologies (Holdings) Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal filed by the assessee is partly allowed

ITA 2671/DEL/2014[2009-10]Status: DisposedITAT Delhi26 Jul 2019AY 2009-10

Bench: Sh. N. K. Billaiya & Ms. Suchitra Kambleassessment Year: 2008-09

Section 143Section 92C

…the excess consideration paid by it over value of net asset acquired of the 45 amalgamating company amounted to goodwill for which the depreciation was to be allowed. The Hon’ble High Court of Delhi in the case of Hindustan Coca Cola Beverages Private Limited 331 ITR 192 has upheld the findings of the Tribunal that payments made towards business acquired on slum price and a part of the price so paid was allocated to the intangible asset covered under the head goodwill. 63. Considering the settled position of law and in the light of the factual matrix of the assessee discussed elsewhere we direct the Assessing Of…

M/S. Aricent Technologies (Holdings) Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal filed by the assessee is partly allowed

ITA 90/DEL/2013[2008-09]Status: DisposedITAT Delhi26 Jul 2019AY 2008-09

Bench: Sh. N. K. Billaiya & Ms. Suchitra Kambleassessment Year: 2008-09

Section 143Section 92C

…the excess consideration paid by it over value of net asset acquired of the 45 amalgamating company amounted to goodwill for which the depreciation was to be allowed. The Hon’ble High Court of Delhi in the case of Hindustan Coca Cola Beverages Private Limited 331 ITR 192 has upheld the findings of the Tribunal that payments made towards business acquired on slum price and a part of the price so paid was allocated to the intangible asset covered under the head goodwill. 63. Considering the settled position of law and in the light of the factual matrix of the assessee discussed elsewhere we direct the Assessing Of…

The Dy. Commissioner of Income Tax, Circle-2(1)(2), Ahmedabad vs. M/S. Landmark Cars (East) Pvt. Ltd., Ahmedabad

In the result, appeal of the Revenue is dismissed

ITA 2419/AHD/2016[2013-14]Status: DisposedITAT Ahmedabad27 Mar 2019AY 2013-14

Bench: Shri Rajpal Yadav & Shri Pradip Kumar Kediaआयकर अपील सं./I.T.A. No. 2419/Ahd/2016 ("नधा"रण वष" / Assessment Year : 2013-14)

For Appellant: Rajesh Meena, Sr. DR

…l and the Delhi High Court has allowed the depreciation claim on such goodwill following the judgment of Hon'ble Supreme Court in the case of Techno Shares and Stock Limited Vs. CIT [2010] 327 ITR 323 and CIT Vs. Hindustan Coco-cola Beverages Pvt. Ltd. [2011] 331 ITR 192. ITA No.2419/Ahd/2016 [DCIT vs. M/s. Landmark Cars (East) Pvt. Ltd.] A.Y. 2013-14 - 6 - 3.14. Since in the case of appellant, intangible assets in the form of business and commercial rights such as dealership, readymade infrastructure including working process, procedures, trained employees, MB approved facilities and other requisites, use of pre…

ACIT, New Delhi vs. M/S. Cryobanks International India Pvt. Ltd., New Delhi

In the result, appeal of the Revenue is allowed for statistical purposes

ITA 779/DEL/2016[2012-13]Status: DisposedITAT Delhi15 Mar 2019AY 2012-13

Bench: Shri G.D. Agarwal & Shri K.Narasimha Charyassessment Year: 2012-13 Acit, Circle 6(2), Vs Cyrobanks International India P Ltd. New Delhi F-27, Okhla Industrial Area, Phase-1 New Delhi. Pan: Aaccc6069Q

Section 32

…at Rs.4.72 crores and based on discounted future contributions method, the business has been valued at Rs.4.45 crores. On this premise and in view of the decision of the Hon’ble jurisdictional high Court in the case of Hindustan Coca Cola Beverages P. Ltd., 331 ITR 192 and the decision of the Hon’ble Supreme Court in the case of Smifs Securities Ltd. (supra), learned CIT(A) held that goodwill that arises on amalgamation of a company on account of extra consideration paid towards acquiring the intangible rights is entitled to depreciation and directed the AO to delete the addition. 7. Revenue is, therefore, in…

DCIT Circle 1, Tirunelveli vs. Rm Kv Fashion Garments Pvt Ltd, Tirunelveli

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

ITA 761/CHNY/2018[2014-15]Status: DisposedITAT Chennai30 Apr 2018AY 2014-15

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

…rchased by the respondent-assessee company :- 8 -: from the erstwhile firm 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…

ACIT Circle 1, Tirunelveli vs. M/S Rm Kv Fbrics Private Limited, Tirunelveli

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

ITA 760/CHNY/2018[2014--15]Status: DisposedITAT Chennai30 Apr 2018

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

…rchased by the respondent-assessee company :- 8 -: from the erstwhile firm 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…

ACIT Circle 1, Tirunelveli vs. M/S Rm K V Silks Private Limited, Tirunelveli

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

ITA 759/CHNY/2018[2014-15]Status: DisposedITAT Chennai30 Apr 2018AY 2014-15

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

…rchased by the respondent-assessee company :- 8 -: from the erstwhile firm 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…

M/S Rm Kv Fbrics Private Limited, Tirunelveli vs. ACIT Circle 1, Tirunelveli

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

ITA 614/CHNY/2018[2014-15]Status: DisposedITAT Chennai30 Apr 2018AY 2014-15

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

…rchased by the respondent-assessee company :- 8 -: from the erstwhile firm 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…

M/S Rm K V Silks Private Limited, Tirunelveli vs. ACIT Circle 1, Tirunelveli

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

ITA 613/CHNY/2018[2014-15]Status: DisposedITAT Chennai30 Apr 2018AY 2014-15

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

…rchased by the respondent-assessee company :- 8 -: from the erstwhile firm 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…