KEC International Ltd. v. ACIT

41 SOT 43Income Tax Appellate Tribunal2010#24892 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2017 to 2018.

Judgments citing KEC International Ltd. v. ACIT

DCIT Cen Cir 6(3), Mumbai vs. E-Land Apparel P.Ltd, Mumbai

In the result, appeal filed by the Revenue is dismissed

ITA 6330/MUM/2016[2011-12]Status: DisposedITAT Mumbai17 Jan 2018AY 2011-12

Bench: Shri B.R. Baskaran (Am) & Shri Ravish Sood(Jm)

…tentions and perused the record. We shall first take up the issue relating to depreciation on brand value. We noticed that the learned CIT(A) has followed the decision of the Coordinate Bench rendered in the case of KEC International Ltd. Vs. Addl. CIT (2010) 41 SOT 43 to come to the conclusion that depreciation is allowable on brand value. The Ld A.R submitted that the brand name was owned by some other company and the assessee has acquired the same only during the course of merger process. Since the assessee has acquired the brand name, the same constitutes intangible assets as held by the co-ordinate bench in…

Creative Eye Ltd, Mumbai vs. Addl CIT 11(1), Mumbai

In the result the appeal is partly allowed

ITA 2831/MUM/2015[2010-11]Status: DisposedITAT Mumbai05 Jan 2017AY 2010-11

Bench: Shri Mahavir Singh () & Shri N.K. Pradhan () Assessment Year: 2009-10 & Assessment Year: 2010-11

For Appellant: Shri Vimal Punmiya,ARFor Respondent: Shri M.V. Rajguru,DR
Section 143(3)Section 14ASection 32Section 32(1)(ii)

…by not considering the decision of the Hon'ble Supreme Court in the case of ITA No. 2830 & 2831/MUM/2015 2 Techno Shares & Stocks vs. CIT (2010) 193 TAXMAN 248 (SC) and the decision of ITAT (Mumbai Bench) in the case of KEC International Ltd. vs. ACIT (2010) 41 SOT 43 (Mum). 2.1 The AO noted that the assessee-company had acquired a brand for Rs. 13,50,00,180/- in the year 1999-2000 from Namah Shivay Enterprise. The AO followed the assessment order passed for the A.Y. 2005-06 and disallowed the claim of depreciation of Rs. 29,56,464/- in the A.Y. 2009-10 and Rs. 22,17,348/- in the A.Y. 2010-11. 2.2 The assessee p…

Creative Eye Ltd, Mumbai vs. Addl CIT 11(1), Mumbai

In the result the appeal is partly allowed

ITA 2830/MUM/2015[2009-10]Status: DisposedITAT Mumbai05 Jan 2017AY 2009-10

Bench: Shri Mahavir Singh () & Shri N.K. Pradhan () Assessment Year: 2009-10 & Assessment Year: 2010-11

For Appellant: Shri Vimal Punmiya,ARFor Respondent: Shri M.V. Rajguru,DR
Section 143(3)Section 14ASection 32Section 32(1)(ii)

…by not considering the decision of the Hon'ble Supreme Court in the case of ITA No. 2830 & 2831/MUM/2015 2 Techno Shares & Stocks vs. CIT (2010) 193 TAXMAN 248 (SC) and the decision of ITAT (Mumbai Bench) in the case of KEC International Ltd. vs. ACIT (2010) 41 SOT 43 (Mum). 2.1 The AO noted that the assessee-company had acquired a brand for Rs. 13,50,00,180/- in the year 1999-2000 from Namah Shivay Enterprise. The AO followed the assessment order passed for the A.Y. 2005-06 and disallowed the claim of depreciation of Rs. 29,56,464/- in the A.Y. 2009-10 and Rs. 22,17,348/- in the A.Y. 2010-11. 2.2 The assessee p…

KEC International Ltd. v. ACIT (41 SOT 43) — Cited in 3 Judgments | BharatTax