CIT v. Smifs Securities Ltd.

348 ITR 302Supreme Court of India2012#119 most cited

What is CIT v. Smifs Securities Ltd. authority for?

Goodwill, whether arising from an amalgamation or a slump sale, is an intangible asset eligible for depreciation under Section 32(1) of the Income-tax Act. While the assessee must prove the existence and valuation of such goodwill, it is recognized as a depreciable asset.

540

judgments rely on this decision, according to BharatTax’s citation analysis of 367,735 Indian tax judgments — from 2011 to 2026.

Also referred to as

Smifs Securities Ltd. · depreciation on goodwill · Section 32(1) · intangible asset · goodwill on amalgamation · slump sale · business acquisition · commercial rights · Section 32(1)(ii) · excess consideration · Section 43(1) · CIT v. Smifs Securities Ltd.

Also reported as

24 Taxmann.com 222210 Taxmann 42813 SCC 488252 CTR 233

Sections most often in play

Section 143(3)Section 32(1)Section 115JBSection 32Section 32(1)(ii)Section 14ASection 143(2)Section 43(1)

Issues it is cited on

goodwill arising on amalgamationdepreciation on goodwillbusiness transfer agreementsection 43(6)(c)section 32(1)(ii)commercial rightstransferor companysection 43(6)transferee companyslump salesection 32(1)section 170

Judgments citing CIT v. Smifs Securities Ltd.

Joshi Technologies International Inc India Projects, Ahmedabad vs. The ACIT (Int. Taxa-1), Ahmedabad

In the result, all the three appeals filed by the assessee are partly allowed

ITA 80/AHD/2022[2017-18]Status: DisposedITAT Ahmedabad12 Dec 2025AY 2017-18

Bench: Dr. Brr Kumar & Ms. Suchitra Kambleita Nos. 80, 81 & 244/Ahd/2022 (Assessment Years 2017-18, 2018-19 & 2019-20)

For Appellant: Shri Vishal Kalra, A.RFor Respondent: Shri Sher Singh, CIT-D.R
Section 143(3)Section 32Section 80I

…goodwill was claimed and allowed in previous years. In the present Assessment Year, the assessee has claimed depreciation on goodwill at the rate of 25% i.e. Rs. 80,739/-. The Ld. AR relied upon the following decisions: i) CIT vs. Smifs Securities Ltd. (2012) 348 ITR 302 (SC) ii) ITAT order dated 19.05.2023 in assessee’s own case for A.Y. 2007-08 ITA No. 3456/Ahd/2010 para 37-38 iii) ITAT order dated 27.10.2023 in assessee’s own case for A.Y. 2009-10 in ITA No. 767/Ahd/2014 para 15-16 iv) ITAT order dated 27.10.2023 in assessee’s own case for A.Y. 2010-11 in ITA No. 766/Ahd/2014 para 47 v) ITAT order dated 27.10.…

Joshi Technologies International Inc India Projects, Ahmedabad vs. Assistant Commissioner of Income Tax, Circle(Int.Taxn.)-1, Ahmedabad

In the result, all the three appeals filed by the assessee are partly allowed

ITA 244/AHD/2022[2019-20]Status: DisposedITAT Ahmedabad12 Dec 2025AY 2019-20

Bench: Dr. Brr Kumar & Ms. Suchitra Kambleita Nos. 80, 81 & 244/Ahd/2022 (Assessment Years 2017-18, 2018-19 & 2019-20)

For Appellant: Shri Vishal Kalra, A.RFor Respondent: Shri Sher Singh, CIT-D.R
Section 143(3)Section 32Section 80I

…goodwill was claimed and allowed in previous years. In the present Assessment Year, the assessee has claimed depreciation on goodwill at the rate of 25% i.e. Rs. 80,739/-. The Ld. AR relied upon the following decisions: i) CIT vs. Smifs Securities Ltd. (2012) 348 ITR 302 (SC) ii) ITAT order dated 19.05.2023 in assessee’s own case for A.Y. 2007-08 ITA No. 3456/Ahd/2010 para 37-38 iii) ITAT order dated 27.10.2023 in assessee’s own case for A.Y. 2009-10 in ITA No. 767/Ahd/2014 para 15-16 iv) ITAT order dated 27.10.2023 in assessee’s own case for A.Y. 2010-11 in ITA No. 766/Ahd/2014 para 47 v) ITAT order dated 27.10.…

M/S Gera Developments Pvt. Ltd, Pune vs. PCIT (Central), Pune

In the result, the appeal filed by the assessee is dismissed

ITA 1053/PUN/2024[2020-21]Status: DisposedITAT Pune09 Dec 2025AY 2020-21

Bench: Dr.Manish Borad & Shri Vinay Bhamore

For Appellant: Shri Hari KrishanFor Respondent: Shri Amol Khairnar
Section 143(2)Section 143(3)Section 263

…ation as Annexure-1 10. Indian Accounting Standards referred to in para 258-333 2.2 on page 4 of the revision order of the Principle CIT dated 19.03.2024 passed u/s.263 of the Act. 11. Judgment of the Supreme Court in the case of 334-337 Smifs Securities Ltd. 348 ITR 302 (SC) 12. Judgment in Xerox India Ltd. 55 taxmann.com 29 338-346 (Delhi Tribunal) 13. Judgment of the High Court in Hindustan Coca 347-356 Cola Beverages (P) Ltd. 331 ITR 192 (Delhi) 14. Judgment of Karnataka High Court in the case of 357-360 Hewlett Packard India Sales (P) Ltd. 463 ITR 329 (Karnataka) 15. Judgment of Supreme Court in Hewlett Pack…

Viacom 18, Media Pvt Ltd, Mumbai vs. PCIT-8, Mumbai

ITA 2591/MUM/2025[2019-20]Status: DisposedITAT Mumbai27 Nov 2025AY 2019-20

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

For Appellant: Mr. Madhur Agarwal/Ms. MokshaFor Respondent: Mr. Vivek Perampurna, CIT-DR
Section 143(3)Section 144BSection 263Section 32

…gamating company but has arisen in the process of amalgamation. The parallel with the present case is complete; the ratio squarely applies. 8.8 Moreover, reliance was placed on the decision of the Hon'ble Supreme Court in CIT vs. Smifs Securities Ltd. [2012] 348 ITR 302 (SC), holding that goodwill constitutes a “business or commercial right of similar nature” eligible for depreciation under section 32(1)(ii). This principle has been consistently followed in subsequent decisions, including Padmini Products (P.) Ltd. (Karnataka HC), Thermo Fisher Scientific India (P.) Ltd. (ITAT Mumbai), Urmin Marketing (P.) Ltd.…

Gbt India Private Limited, New Delhi vs. ACIT, OSD, Delhi

In the result, the assessee’s appeal is allowed as above

ITA 1764/DEL/2022[2018-19]Status: DisposedITAT Delhi26 Nov 2025AY 2018-19

Bench: Shri Challa Nagendra Prasad & Shri Avdhesh Kumar Mishra

Section 143(3)Section 234ASection 36(1)(vii)Section 36(2)

…Counsel, drawing our attention to the Explanation 3(b) to section 32(1) of the Act, submitted that the goodwill is an asset eligible for depreciation. Reliance was placed on the decision of the Hon'ble Supreme Court in the case of Smifs Securities Ltd. [2012] 348 ITR 302. Further, placing reliance on the decision of the Hon'ble Delhi High Court in the case of Triune Energy Services (P.) Ltd. [2016] 65 taxmann.com 288, it was submitted that the consideration paid in excess of net value of assets pursuant to a slump sale was nothing but goodwill. 41. The Ld. CIT-DR submitted that the appellant assessee and the sel…

Assistant Commissioner of Income Tax, Mumbai vs. Siyaram Silk Mills Limited, Mumbai

In the result, the appeal filed by the revenue stands allowed

ITA 2941/MUM/2025[2016-17]Status: DisposedITAT Mumbai25 Nov 2025AY 2016-17

Bench: Hon’Ble Shri Sandeep Gosain & Hon’Ble Shri Girish Agrawalassistant Commissioner Of Vs. Siyaram Silk Mills Income Tax Limited Room No. 506, 5Th Floor, B5, Trade World, Aaykar Bhavan, M K Road, Kamala City, Senapati Churchgate, Bapat Margf, Lower Mumbai- 400020 Parel West, Mumbai- 400013 Pan/Gir No. Aaacs6995D (Applicant) (Respondent)

Section 250Section 32Section 32(1)

…nature. On perusal it would be noted that goodwill is not explicitly covered in the aforesaid definition of intangibles and therefore there was a controversy which was put to rest by the Hon'ble Supreme Court in the case of CIT v Smifs Securities Ltd. (2012) 348 ITR 302 (SC) wherein it was held that goodwill arising at the time of merger is an intangible asset and is entitled to be depreciated u/s 32 of the Act. The facts of the case were that YSN Shares and Securities Pvt Ltd (YSN) amalgamated with the assessee company in accordance with a 5 Siyaram Silk Mills Limited scheme of amalgamation sanctioned by both…

Signode India Limited, Hyderabad vs. ACIT, Circle-3(1), Hyderabad

ITA 240/HYD/2023[2015-16]Status: DisposedITAT Hyderabad14 Nov 2025AY 2015-16

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

For Appellant: Shri H. SrinivasuluFor Respondent: Dr. Narendra Kumar Naik, CIT-DR
Section 143(3)Section 144C(5)Section 32

…l has to be allowed as a deduction u/sec.32(1) of the Income Tax Act, 1961. In support of the above contentions, the Learned Counsel for the Assessee relied upon the Judgment of Hon’ble Supreme Court in the case of CIT vs., M/s SMIFS Securities Limited [2012] 348 ITR 302 (SC) where it was held that, “the excess consideration paid towards the reputation which the amalgamating company was enjoying for retaining its existing clientele was considered to be goodwill and thereby, eligible 16 ITA.No.434/Hyd/2021 & ITA 240/Hyd/2023 M/s. Signode India Limited for tax depreciation on intangible asset”. The Hon’ble Supreme…

Signode India Limited, Hyderabad vs. Deputy Commissioner of Income Tax, Circle-3(1), Hyderabad

ITA 434/HYD/2021[2016-17]Status: DisposedITAT Hyderabad14 Nov 2025AY 2016-17

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

For Appellant: Shri H. SrinivasuluFor Respondent: Dr. Narendra Kumar Naik, CIT-DR
Section 143(3)Section 144C(5)Section 32

…l has to be allowed as a deduction u/sec.32(1) of the Income Tax Act, 1961. In support of the above contentions, the Learned Counsel for the Assessee relied upon the Judgment of Hon’ble Supreme Court in the case of CIT vs., M/s SMIFS Securities Limited [2012] 348 ITR 302 (SC) where it was held that, “the excess consideration paid towards the reputation which the amalgamating company was enjoying for retaining its existing clientele was considered to be goodwill and thereby, eligible 16 ITA.No.434/Hyd/2021 & ITA 240/Hyd/2023 M/s. Signode India Limited for tax depreciation on intangible asset”. The Hon’ble Supreme…

DCIT CC 8(2), Mumbai vs. Echjay Industries Private Limited, Mumbai

In the result, both the appeals of the Revenue are dismissed

ITA 5437/MUM/2025[2020-21]Status: DisposedITAT Mumbai30 Oct 2025AY 2020-21

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Respondent: Mr. N.R. Rao, Adv
Section 32Section 32(1)

…nded upon the authoritative pronouncement of the Hon’ble Supreme upon the authoritative pronouncement of the Hon’ble Supreme upon the authoritative pronouncement of the Hon’ble Supreme Court in CIT v. Smifs Securities Ltd. CIT v. Smifs Securities Ltd. [(2012) 348 ITR 302 (SC)], [(2012) 348 ITR 302 (SC)], wherein it was categorically held that goodwill wherein it was categorically held that goodwill constitutes an “intangible asset” within the meaning of Section 32(1)(ii) of the Act. “intangible asset” within the meaning of Section 32(1)(ii) of the Act. “intangible asset” within the meaning of Section 32(1)(ii) of…

DCIT CC 8(2), Mumbai vs. Echjay Industries Private Limited, Mumbai

In the result, both the appeals of the Revenue are dismissed

ITA 5436/MUM/2025[2018-19]Status: DisposedITAT Mumbai30 Oct 2025AY 2018-19

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Respondent: Mr. N.R. Rao, Adv
Section 32Section 32(1)

…nded upon the authoritative pronouncement of the Hon’ble Supreme upon the authoritative pronouncement of the Hon’ble Supreme upon the authoritative pronouncement of the Hon’ble Supreme Court in CIT v. Smifs Securities Ltd. CIT v. Smifs Securities Ltd. [(2012) 348 ITR 302 (SC)], [(2012) 348 ITR 302 (SC)], wherein it was categorically held that goodwill wherein it was categorically held that goodwill constitutes an “intangible asset” within the meaning of Section 32(1)(ii) of the Act. “intangible asset” within the meaning of Section 32(1)(ii) of the Act. “intangible asset” within the meaning of Section 32(1)(ii) of…

Gmm Pfaulder Ltd., Ahmedabad vs. The Pr.CIT, Ahmedabad-1, Ahmedabad

In the result, the appeal of the assessee is allowed

ITA 839/AHD/2025[2020-21]Status: DisposedITAT Ahmedabad28 Oct 2025AY 2020-21

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinhaआयकर अपील सं /Ita No.839/Ahd/2025 िनधा"रण वष" /Assessment Year : 2020-21 Gmm Pfaulder Ltd. The Pr.Cit बनाम/ 3Rd Floor, B-Jadav Chambers Ahmedabad-1 V/S. Navrangpura H.O. Ahmedabad – 380 015 Ashram Road Ahmedabad – 380 009 "थायी लेखा सं./Pan: Aabcg 0563 A (अपीलाथ"/ Appellant) ("" यथ"/ Respondent) Assessee By : Shri S.N. Soparkar, Sr. Advocate Revenue By : Shri Sher Singh, Cit-Dr सुनवाई की तारीख/Date Of Hearing : 09/09/2025 घोषणा की तारीख /Date Of Pronouncement: 28 /10/2025 आदेश/O R D E R Per Siddhartha Nautiyal, Jm: This Appeal Filed By The Assessee Is Directed Against The Order Of Learned Principal Commissioner Of Income-Tax, Ahmedabad-1 [Hereinafter Referred To As “Ld. Pr. Cit” For Short] Dated 07/03/2025 Passed In Exercise Of His Revisionary Jurisdiction Under Section 263 Of The Income-Tax Act, 1961 [Hereinafter Referred To As "The Act" For Short] For Assessment Year (Ay) 2020- 21. 2. The Assessee Has Raised The Following Grounds Of Appeal: Gmm Pfaulder Ltd. Vs. Pcit Asst. Year : 2020-21 2

For Appellant: Shri S.N. Soparkar, Sr. AdvocateFor Respondent: Shri Sher Singh, CIT-DR
Section 135Section 143(3)Section 144BSection 263Section 32Section 80G

…ous and prejudicial to the interests of the Revenue. In response, the assessee filed a detailed submission contending that depreciation on goodwill was allowable following the ratio laid down by the Hon’ble Supreme Court in CIT v. Smifs Securities Ltd. (2012) 348 ITR 302 (SC), that the provision for warranty was in line with the principles laid down by the Hon’ble Supreme Court in Rotork Controls India (P) Ltd. (supra), and that donations forming part of CSR expenditure were eligible for deduction under section 80G of the Act. 3.2. The Pr. CIT, however, after examining the submissions, held that the reliance pla…

Dosti Realty Limited, Mumbai vs. DCIT, Circle-1(1)(1), Mumbai

In the result appeal filed by the assessee stands partly allowed

ITA 6129/MUM/2024[2017-18]Status: DisposedITAT Mumbai28 Oct 2025AY 2017-18

Bench: Smt. Beena Pillai () & Shri Arun Khodpia ()

Section 115JSection 14ASection 37(1)

…ost in the hands of target company would be NIL by virtue of section 55(2) (a) (ii) and, accordingly, the cost would be NIL in the hands of acquirer-company. It is pertinent to note that decisions favouring the proposition [CIT v. Smifs Securities Ltd. [2012] 348 ITR 302(SC)] that depreciation is available on goodwill arising out of amalgamation, section, viz., 5th proviso to section 32 (1), section 49(1)(iii)(e), Explanation 7 to section 43(1)and/or Explanation 2(b) to section 43(6)(c) and section 55(2)(a)(ii) were not referred.. 8. Generally, when someone acquires a business and purchase consideration paid for…

DCIT, Circle- 2(1), New Delhi vs. Akorn India Pvt. Ltd., New Delhi

ITA 6838/DEL/2018[2014-15]Status: DisposedITAT Delhi28 Oct 2025AY 2014-15

Bench: Shri M Balaganesh & Shri Vimal Kumarआ.अ.सं/.I.T.A No.1743/Del/2017 िनधा"रणवष"/Assessment Year:2012-13 बनाम Akorn India Pvt. Ltd. Dcit, 4Th Floor, Building 9B, Vs. Circle 2(1), Dlf Cyber City, Gurgaon. New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A No.2074/Del/2017 िनधा"रणवष"/Assessment Year:2012-13 बनाम Acit, Akorn India Pvt. Ltd. Circle 2(1), Room No.153A, Vs. 1105-1106, Ashoka Estate, C.R. Building, I.P. Estate, Barakhamba Road, New Delhi. New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A No.6566/Del/2018 िनधा"रणवष"/Assessment Year:2013-14 बनाम Akorn India Pvt. Ltd. Acit, 4Th Floor, Building 9B, Vs. Circle 2(1), C.R. Building, Dlf Cyber City, Gurgaon. I.P. Estate, New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A No.6837/Del/2018 िनधा"रणवष"/Assessment Year:2013-14 बनाम Dcit, Akorn India Pvt. Ltd. Circle 2(1), Room No.153A, Vs. 1105-1106, Ashoka Estate, C.R. Building, I.P. Estate, Barakhamba Road, New Delhi. New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent

Section 139(5)Section 50C

…above the book value of assets to KDIL of Rs 144.09 crores towards goodwill as intangible asset was not accepted by the Learned AO. The assessee also placed reliance on the decision of the Hon’ble Supreme Court in the case of Smifs Securities Ltd reported in 348 ITR 302 (SC). The Learned AO observed tha the assessee has to prove that the goodwill is actually existing or obtained from the transaction. Thus primarily, for claiming depreciation on goodwill, the onus is on the assessee to substantiate that the payment made as slump purchase consideration also include value paid for goodwill and also prove the benefi…

DCIT, Circle- 2(1), New Delhi vs. Akorn India Pvt. Ltd., New Delhi

ITA 6837/DEL/2018[2013-14]Status: DisposedITAT Delhi28 Oct 2025AY 2013-14

Bench: Shri M Balaganesh & Shri Vimal Kumarआ.अ.सं/.I.T.A No.1743/Del/2017 िनधा"रणवष"/Assessment Year:2012-13 बनाम Akorn India Pvt. Ltd. Dcit, 4Th Floor, Building 9B, Vs. Circle 2(1), Dlf Cyber City, Gurgaon. New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A No.2074/Del/2017 िनधा"रणवष"/Assessment Year:2012-13 बनाम Acit, Akorn India Pvt. Ltd. Circle 2(1), Room No.153A, Vs. 1105-1106, Ashoka Estate, C.R. Building, I.P. Estate, Barakhamba Road, New Delhi. New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A No.6566/Del/2018 िनधा"रणवष"/Assessment Year:2013-14 बनाम Akorn India Pvt. Ltd. Acit, 4Th Floor, Building 9B, Vs. Circle 2(1), C.R. Building, Dlf Cyber City, Gurgaon. I.P. Estate, New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A No.6837/Del/2018 िनधा"रणवष"/Assessment Year:2013-14 बनाम Dcit, Akorn India Pvt. Ltd. Circle 2(1), Room No.153A, Vs. 1105-1106, Ashoka Estate, C.R. Building, I.P. Estate, Barakhamba Road, New Delhi. New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent

Section 139(5)Section 50C

…above the book value of assets to KDIL of Rs 144.09 crores towards goodwill as intangible asset was not accepted by the Learned AO. The assessee also placed reliance on the decision of the Hon’ble Supreme Court in the case of Smifs Securities Ltd reported in 348 ITR 302 (SC). The Learned AO observed tha the assessee has to prove that the goodwill is actually existing or obtained from the transaction. Thus primarily, for claiming depreciation on goodwill, the onus is on the assessee to substantiate that the payment made as slump purchase consideration also include value paid for goodwill and also prove the benefi…

Akorn India Pvt. Ltd., Gurgaon vs. ACIT, Circle-2(1), New Delhi

ITA 6567/DEL/2018[2014-15]Status: DisposedITAT Delhi28 Oct 2025AY 2014-15

Bench: Shri M Balaganesh & Shri Vimal Kumarआ.अ.सं/.I.T.A No.1743/Del/2017 िनधा"रणवष"/Assessment Year:2012-13 बनाम Akorn India Pvt. Ltd. Dcit, 4Th Floor, Building 9B, Vs. Circle 2(1), Dlf Cyber City, Gurgaon. New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A No.2074/Del/2017 िनधा"रणवष"/Assessment Year:2012-13 बनाम Acit, Akorn India Pvt. Ltd. Circle 2(1), Room No.153A, Vs. 1105-1106, Ashoka Estate, C.R. Building, I.P. Estate, Barakhamba Road, New Delhi. New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A No.6566/Del/2018 िनधा"रणवष"/Assessment Year:2013-14 बनाम Akorn India Pvt. Ltd. Acit, 4Th Floor, Building 9B, Vs. Circle 2(1), C.R. Building, Dlf Cyber City, Gurgaon. I.P. Estate, New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A No.6837/Del/2018 िनधा"रणवष"/Assessment Year:2013-14 बनाम Dcit, Akorn India Pvt. Ltd. Circle 2(1), Room No.153A, Vs. 1105-1106, Ashoka Estate, C.R. Building, I.P. Estate, Barakhamba Road, New Delhi. New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent

Section 139(5)Section 50C

…above the book value of assets to KDIL of Rs 144.09 crores towards goodwill as intangible asset was not accepted by the Learned AO. The assessee also placed reliance on the decision of the Hon’ble Supreme Court in the case of Smifs Securities Ltd reported in 348 ITR 302 (SC). The Learned AO observed tha the assessee has to prove that the goodwill is actually existing or obtained from the transaction. Thus primarily, for claiming depreciation on goodwill, the onus is on the assessee to substantiate that the payment made as slump purchase consideration also include value paid for goodwill and also prove the benefi…

Akorn India Pvt. Ltd., Gurgaon vs. ACIT, Circle-2(1), New Delhi

ITA 6566/DEL/2018[2013-14]Status: DisposedITAT Delhi28 Oct 2025AY 2013-14

Bench: Shri M Balaganesh & Shri Vimal Kumarआ.अ.सं/.I.T.A No.1743/Del/2017 िनधा"रणवष"/Assessment Year:2012-13 बनाम Akorn India Pvt. Ltd. Dcit, 4Th Floor, Building 9B, Vs. Circle 2(1), Dlf Cyber City, Gurgaon. New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A No.2074/Del/2017 िनधा"रणवष"/Assessment Year:2012-13 बनाम Acit, Akorn India Pvt. Ltd. Circle 2(1), Room No.153A, Vs. 1105-1106, Ashoka Estate, C.R. Building, I.P. Estate, Barakhamba Road, New Delhi. New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A No.6566/Del/2018 िनधा"रणवष"/Assessment Year:2013-14 बनाम Akorn India Pvt. Ltd. Acit, 4Th Floor, Building 9B, Vs. Circle 2(1), C.R. Building, Dlf Cyber City, Gurgaon. I.P. Estate, New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A No.6837/Del/2018 िनधा"रणवष"/Assessment Year:2013-14 बनाम Dcit, Akorn India Pvt. Ltd. Circle 2(1), Room No.153A, Vs. 1105-1106, Ashoka Estate, C.R. Building, I.P. Estate, Barakhamba Road, New Delhi. New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent

Section 139(5)Section 50C

…above the book value of assets to KDIL of Rs 144.09 crores towards goodwill as intangible asset was not accepted by the Learned AO. The assessee also placed reliance on the decision of the Hon’ble Supreme Court in the case of Smifs Securities Ltd reported in 348 ITR 302 (SC). The Learned AO observed tha the assessee has to prove that the goodwill is actually existing or obtained from the transaction. Thus primarily, for claiming depreciation on goodwill, the onus is on the assessee to substantiate that the payment made as slump purchase consideration also include value paid for goodwill and also prove the benefi…

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

ITA 2074/DEL/2017[2012-13]Status: DisposedITAT Delhi28 Oct 2025AY 2012-13

Bench: Shri M Balaganesh & Shri Vimal Kumarआ.अ.सं/.I.T.A No.1743/Del/2017 िनधा"रणवष"/Assessment Year:2012-13 बनाम Akorn India Pvt. Ltd. Dcit, 4Th Floor, Building 9B, Vs. Circle 2(1), Dlf Cyber City, Gurgaon. New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A No.2074/Del/2017 िनधा"रणवष"/Assessment Year:2012-13 बनाम Acit, Akorn India Pvt. Ltd. Circle 2(1), Room No.153A, Vs. 1105-1106, Ashoka Estate, C.R. Building, I.P. Estate, Barakhamba Road, New Delhi. New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A No.6566/Del/2018 िनधा"रणवष"/Assessment Year:2013-14 बनाम Akorn India Pvt. Ltd. Acit, 4Th Floor, Building 9B, Vs. Circle 2(1), C.R. Building, Dlf Cyber City, Gurgaon. I.P. Estate, New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A No.6837/Del/2018 िनधा"रणवष"/Assessment Year:2013-14 बनाम Dcit, Akorn India Pvt. Ltd. Circle 2(1), Room No.153A, Vs. 1105-1106, Ashoka Estate, C.R. Building, I.P. Estate, Barakhamba Road, New Delhi. New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent

Section 139(5)Section 50C

…above the book value of assets to KDIL of Rs 144.09 crores towards goodwill as intangible asset was not accepted by the Learned AO. The assessee also placed reliance on the decision of the Hon’ble Supreme Court in the case of Smifs Securities Ltd reported in 348 ITR 302 (SC). The Learned AO observed tha the assessee has to prove that the goodwill is actually existing or obtained from the transaction. Thus primarily, for claiming depreciation on goodwill, the onus is on the assessee to substantiate that the payment made as slump purchase consideration also include value paid for goodwill and also prove the benefi…

Akorn India Pvt. Ltd., Gurgaon vs. DCIT, New Delhi

ITA 1743/DEL/2017[2012-13]Status: DisposedITAT Delhi28 Oct 2025AY 2012-13

Bench: Shri M Balaganesh & Shri Vimal Kumarआ.अ.सं/.I.T.A No.1743/Del/2017 िनधा"रणवष"/Assessment Year:2012-13 बनाम Akorn India Pvt. Ltd. Dcit, 4Th Floor, Building 9B, Vs. Circle 2(1), Dlf Cyber City, Gurgaon. New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A No.2074/Del/2017 िनधा"रणवष"/Assessment Year:2012-13 बनाम Acit, Akorn India Pvt. Ltd. Circle 2(1), Room No.153A, Vs. 1105-1106, Ashoka Estate, C.R. Building, I.P. Estate, Barakhamba Road, New Delhi. New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A No.6566/Del/2018 िनधा"रणवष"/Assessment Year:2013-14 बनाम Akorn India Pvt. Ltd. Acit, 4Th Floor, Building 9B, Vs. Circle 2(1), C.R. Building, Dlf Cyber City, Gurgaon. I.P. Estate, New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A No.6837/Del/2018 िनधा"रणवष"/Assessment Year:2013-14 बनाम Dcit, Akorn India Pvt. Ltd. Circle 2(1), Room No.153A, Vs. 1105-1106, Ashoka Estate, C.R. Building, I.P. Estate, Barakhamba Road, New Delhi. New Delhi. Pan No.Aajca8290J अपीलाथ" Appellant ""यथ"/Respondent

Section 139(5)Section 50C

…above the book value of assets to KDIL of Rs 144.09 crores towards goodwill as intangible asset was not accepted by the Learned AO. The assessee also placed reliance on the decision of the Hon’ble Supreme Court in the case of Smifs Securities Ltd reported in 348 ITR 302 (SC). The Learned AO observed tha the assessee has to prove that the goodwill is actually existing or obtained from the transaction. Thus primarily, for claiming depreciation on goodwill, the onus is on the assessee to substantiate that the payment made as slump purchase consideration also include value paid for goodwill and also prove the benefi…

Bakeri Projects Private Limited, Ahmedabad vs. The Dy.CIT, Circle-1(1)(1), Ahmedabad

In the result, the appeals of the assessee on this ground are allowed

ITA 785/AHD/2023[2016-17]Status: DisposedITAT Ahmedabad10 Oct 2025AY 2016-17

Bench: Dr. Brr Kumar & Ms. Suchitra Kambleassessment Year 2016-17

For Appellant: Shri S.N. Soparkar, A.RFor Respondent: Shri R.P. Rastogi, CIT-D.R
Section 143(2)Section 271(1)(c)Section 274Section 32Section 32(1)Section 32(1)(ii)Section 43(1)Section 43(6)

…THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “B” BENCH Before Dr. BRR Kumar, Vice President And Ms. Suchitra Kamble, Judicial Member Assessment Year 2016-17 Bakeri Projects Pvt. The DCIT, Ltd. 1st Sanskrit, Circle-1(1)(1) Old High Court Road, Vs Ahmedabad Off Ashram Road, (Respondent) Ahmedabad Gujarat-380009 PAN: AAGCB1864L (Appellant) Assessee by: Shri S.N. Soparkar, A.R. Revenue by: Shri R.P. Rastogi, CIT-D.R. Date of hearing : 02-09-2025 Date of pronouncement : 10-10-2025 आदेश/ORDER Per Suchitra Kamble, Judicial Member: This is an appeal filed against the order dated 11-08-2023 passed by National…

Cpl Holdings LLP (Successor to Cpl Holdings Private Limited), Ahmedabad vs. The Pr. CIT, Ahmedabad-3, Ahmedabad

In the result, the appeal of the assessee is dismissed

ITA 1022/AHD/2024[2018-19]Status: DisposedITAT Ahmedabad08 Oct 2025AY 2018-19

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinhaassessment Year: 2018-19

Section 143(3)Section 263Section 32

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH, AHMEDABAD BEFORE SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER AND SHRI NARENDRA PRASAD SINHA, ACCOUNTANT MEMBER Assessment Year: 2018-19 CPL Holdings LLP Principal Commissioner of (Successor to CPL Holdings Income Tax, Private Limited), Ahmedabad – 3, 708, Corporate Campus, Pratyakshkar Bhawan, Sarkhej Dholka Road, B/h. Stock Exchange, Bhat, Nr. Panjara Pole X Road, Ahmedabad – 382 210. Ambawadi, Vs. (Gujarat). Ahmedabad – 380 014. [PAN – AANFC 1504 E] (Gujarat). [PAN of CPL Holdings Private Limited: AAECC 0668 B] (Appellant) (Respondent) Assessee by Shri S.…