DCIT v. Worldwide Media

43 Taxmann.com 18Income Tax Appellate Tribunal2014#20851 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2019 to 2024.

Judgments citing DCIT v. Worldwide Media

M/S. Shristi Infrastructure Development Corporation Ltd., Kolkata vs. D.C.I.T., Circle - 11(1), Kolkata

In the result, the appeal of the assessee is allowed

ITA 1256/KOL/2024[2016-2017]Status: DisposedITAT Kolkata30 Sept 2024AY 2016-2017

Bench: Dr. Manish Borad, Am & Shri Sonjoy Sarma, Jm M/S Shristi Infrastructure Dcit, Development Corporation Circle 11(1) Ltd. Aaykar Bhavan, Plot No.X-12 & 3, Block P-7, Chowringhee Vs. Ep, Sector V Salt Lake City, Square, Kolkata700069 Kolkata-700 091 West Bengal West Bengal (Appellant) (Respondent) Pan No. Aabcp5074F Assessee By : Shri Sunil Surna, Ar Revenue By : Shri P.P. Barman, Dr Date Of Hearing: 04.09.2024 Date Of Pronouncement: 30.09.2024

For Appellant: Shri Sunil Surna, ARFor Respondent: Shri P.P. Barman, DR

Section 143(2)Section 143(3)

…e Apex Court has also been followed in the judicial pronouncements mentioned below wherein it was held that depreciation is allowable on goodwill arising on merger: Shristi Infrastructure Development corporation; A.Y. 2016-17 - DCIT vs Worldwide Media (2014) (43 Taxmann.com 18 - Mum ITAT -Triune Energy Services (P) Ltd. us DCIT (2016) (65 taxmann.com 288 - Del HC) -Cyber India Online Ltd. vs ACIT (2014)(42 Taxmann.com 108) 1.5 In light of the above, it is apparent that the depreciation is allowable on goodwill. 1.6 The Ld. AO in its order has also not contested that the depreciation on goodwill is not allowabl…

Troikaa Pharmaceuticlas Limited, Ahmedabad vs. The Pr. CIT-3, Ahmedabad

ITA 55/AHD/2021[2016-17]Status: DisposedITAT Ahmedabad18 Nov 2021AY 2016-17

For Appellant: Shri Dhiren Shah &For Respondent: Shri Vinod Tanwani, CIT-D.R

Section 143(3)Section 263Section 263(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “B” BENCH (Conducted Through Virtual Court) Before: Shri Mahavir Prasad, Judicial Member And Shri Amarjit Singh, Accountant Member ITA Nos. 55 & 56/Ahd/2021 Assessment Year 2016-17 & 2017-2018 Troikaa Pharmaceuticals The PCIT, Ltd. Commerce House-1, Ahmedabad-3 Opp: Rajvansh Apartment, Vs (Respondent) Judges Bunglow Road, Ahmedabad PAN: AABCT6866H (Appellant) Revenue by: Shri Vinod Tanwani, CIT-D.R. Assessee by: Shri Dhiren Shah & Shri Nupur Shah, A.Rs. Date of hearing : 17-09-2021 Date of pronouncement : 17-11-2021 आदेश/ORDER PER : AMARJIT SINGH, ACCOUN…

ACIT, Circle - 11(2), Kolkata vs. M/S. Shristi Infrastructure Development Corporation Ltd., Kolkata

Appeal is dismissed

ITA 881/KOL/2019[2012-13]Status: DisposedITAT Kolkata31 Dec 2019AY 2012-13

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकर अपीलसं./I.T.A No.881/Kol/2019 ("नधा"रण वष" / Assessment Year: 2012-13) Acit, Circle-11(2), Kolkata. Vs. M/S. Shristi Infrastructure Pvt. Ltd. Plot No.X-1,2 & 3, Block-Ep, Sector-V, Salt Lake City, Kolkata – 700091. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcp5074F (Appellant) .. (Respondent) Appellant By : Smt. Ranu Biswas, Addl. Cit Respondent By : Shri Sunil Surana, Fca सुनवाईक"तार"ख/ Date Of Hearing : 16/12/2019 घोषणाक"तार"ख/Date Of Pronouncement : 31/12/2019 आदेश / O R D E R Per Shri S. S. Godara: This Assessee’S Appeal For Assessment Year 2012-13 Arises Against The Commissioner Of Income Tax (A) - 4, Kolkata Dated 26.12.2018 Passed In Case No.738/Cit(A)-4/2015-16 Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961 (In Short ‘The Act’). Heard Both The Parties. Case File Perused.

For Appellant: Smt. Ranu Biswas, Addl. CITFor Respondent: Shri Sunil Surana, FCA

Section 143(3)Section 32(1)

…oodwill' arising pursuant to a merger. 1.4 The decision of the Apex Court has also been followed in the judicial pronouncements mentioned below wherein it was held that depreciation is allowable on goodwill arising on merger: - DCIT vs Worldwide Media (2014) (43 Taxmann.com 18 - Mum ITAT -Triune Energy Services (P) Ltd. us DCIT (2016) (65 taxmann.com 288 – Del HC) -Cyber India Online Ltd. vs ACIT (2014)(42 Taxmann.com 108) 1.5 In light of the above, it is apparent that the depreciation is allowable on goodwill. 1.6 The Ld. AO in its order has also not contested that the depreciation on goodwill is not allowable u…

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

…ann. com 26 & ACIT (OSD) Vs. Sahitya Mudranalaya Pvt. Ltd.[2014] 33 ITR (Trib) 108] (Ahd) have held that depreciation on goodwill, which is an asset as per section 32 is allowable. Hon'ble ITAT, Mumbai in the case of ACIT Vs. Worldwide Media Pvt. Ltd. [2014] 43 Taxmann.com 18(Mum) has held that where assessee acquire business as ongoing concern, and claimed depreciation in respect of amount paid for acquiring intangible assets, the depreciation was allowable on goodwill like any other intangible asset. Hon'ble ITAT, Delhi in the case of Thyssen Kurup Elevators (1) Pvt. Ltd. Vs. ACIT [2014] 50 Taxmann.com, has h…