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“depreciation on goodwill”

DepreciationSection 32Section 32346 judgments

The decision most relied on for depreciation on goodwill is CIT v. Smifs Securities Ltd. (348 ITR 302), cited in 540 judgments on BharatTax.

Leading authorities on depreciation on goodwill

CIT v. Smifs Securities Ltd.
348 ITR 302 · 2012 · Supreme Court
540
citing judgments

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.

Areva T&D India Ltd. v. DCIT
345 ITR 421 · 2012 · High Court
97
citing judgments

Business contracts and commercial rights of similar nature qualify as intangible assets under Section 32(1)(ii) and are eligible for depreciation. The decision also affirms that goodwill is an intangible asset eligible for depreciation.

Additional/Joint/Deputy/Assistant Commissioner of Incometax/Income-tax Officer v. Mylan Laboratories Ltd.
137 Taxmann.com 178 · 2022 · High Court
60
citing judgments

Goodwill arising on amalgamation is entitled to depreciation. This principle is established by multiple High Court decisions.

Beverages 331 ITR 192 (Del) B.Raveendran Pillai v. CIT
237 Taxmann 230 · 2016 · High Court
59
citing judgments

Goodwill arising on amalgamation is an intangible asset qualifying for depreciation under Section 32 of the Income Tax Act.

Ashwin Vanaspati Industries v. CIT
255 ITR 26 · 2002 · High Court
57
citing judgments

Depreciation is allowable on goodwill acquired through the slump sale of a business. When an assessee claims depreciation on the enhanced cost of an asset supported by a registered valuer's report, tax authorities must produce countervailing evidence, such as a departmental valuation report, to challenge it, rather than simply disregarding the expert opinion.

Kerala Vision Ltd. v. ACIT (
35 Taxmann.com 463 · 2013 · ITAT
52
citing judgments

Transactions carried out on the purchase of off-the-shelf software prior to the jurisdictional High Court's decision in CIT v. Samsung Electronics Co. Ltd. (October 15, 2011) are not liable for Tax Deducted at Source (TDS).

Thiru Arooran Sugar Ltd. v. DCIT
350 ITR 324 · 2013 · High Court
44
citing judgments

A deduction for interest expense on borrowed funds used for interest-free advances to group companies is permissible only if the assessee establishes these advances were from surplus funds. The decision further clarifies eligibility for depreciation on intangible assets like non-compete fees, software, goodwill, and commercial rights under section 32(1)(ii), often arising from a slump sale.

Triune Energy Services (P.) Ltd. v. DCIT
65 Taxmann.com 288 · 2016 · High Court
42
citing judgments

When a business is purchased as a going concern, the consideration paid in excess of the value of its tangible assets is classified as goodwill, which is an intangible asset eligible for depreciation without needing a separate valuation.

Judgments citing depreciation on goodwill

Suzlon Energy Ltd., Ahmedabad vs. The Dy. Commissioner of Income Tax Circle-4(1)(1), Ahmedabad

In the result the Ground Nos

ITA 198/AHD/2023[2016-17]Status: DisposedITAT Ahmedabad12 Nov 2024AY 2016-17

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

Section 115JSection 143(3)Section 14A

Assessment Years 2016-17 and 2017-18. Since common issues are involved in both the years namely disallowance u/s.14A rwr 8D and Depreciation on Goodwill, the same are disposed of by this common order for the sake of convenience. Asst. year 2016-17 is taken as the lead case ... profit u/s. 115JB of the Act and made addition Rs.35,11,35,800/- and demanded tax thereon. 4. Next issue is claim of "depreciation on Goodwill". This issue arising consequent to the Scheme of Amalgamation duly approved by the Competent Authority i.e. National Company Law Tribunal [herein after referred

Dy Commissioner of Income Tax CC-5(2), Mumbai vs. Jet Privilege Private Limited, Mumbai

In the result, the appeals for AY 2015-16 to 2018-19 & 2021-22 of the assessee, revenue, and Cross Objections of the assessee are allowed for statistical purposes

ITA 2325/MUM/2023[2021-22]Status: DisposedITAT Mumbai11 Nov 2024AY 2021-22

Bench: Shri Anikesh Banerjee, Jm & Ms Padmavathy S, Am

Section 32(1)

admissible to the assessee. 6.14 It is pertinent to note that the assessee company in its reply has submitted that the claim of depreciation on goodwill is an allowable expenditure as per the provisions of sec. 32(1) of the Act, and the same is covered by the decision ... 103/Mum/2023 Jet Privilege Pvt. Ltd. 9. The ld. AR at the outset submitted that the AO has denied the depreciation on goodwill claimed by the assessee by treating the entire transaction of slum sale as demerger which is factually incorrect. The ld. AR further submitted that the assessee has acquired

Jet Privilege Private Limited, Mumbai vs. Dy Commissioner of Income Tax CC-5(2), Mumbai

In the result, the appeals for AY 2015-16 to 2018-19 & 2021-22 of the assessee, revenue, and Cross Objections of the assessee are allowed for statistical purposes

ITA 2287/MUM/2023[2021-22]Status: DisposedITAT Mumbai11 Nov 2024AY 2021-22

Bench: Shri Anikesh Banerjee, Jm & Ms Padmavathy S, Am

Section 32(1)

admissible to the assessee. 6.14 It is pertinent to note that the assessee company in its reply has submitted that the claim of depreciation on goodwill is an allowable expenditure as per the provisions of sec. 32(1) of the Act, and the same is covered by the decision ... 103/Mum/2023 Jet Privilege Pvt. Ltd. 9. The ld. AR at the outset submitted that the AO has denied the depreciation on goodwill claimed by the assessee by treating the entire transaction of slum sale as demerger which is factually incorrect. The ld. AR further submitted that the assessee has acquired

Dy Commissioner of Income Tax CC-5(2), Mumbai vs. Jet Privilege Private Limited, Mumbai

In the result, the appeals for AY 2015-16 to 2018-19 & 2021-22 of the assessee, revenue, and Cross Objections of the assessee are allowed for statistical purposes

ITA 2163/MUM/2023[2017-18]Status: DisposedITAT Mumbai11 Nov 2024AY 2017-18

Bench: Shri Anikesh Banerjee, Jm & Ms Padmavathy S, Am

Section 32(1)

admissible to the assessee. 6.14 It is pertinent to note that the assessee company in its reply has submitted that the claim of depreciation on goodwill is an allowable expenditure as per the provisions of sec. 32(1) of the Act, and the same is covered by the decision ... 103/Mum/2023 Jet Privilege Pvt. Ltd. 9. The ld. AR at the outset submitted that the AO has denied the depreciation on goodwill claimed by the assessee by treating the entire transaction of slum sale as demerger which is factually incorrect. The ld. AR further submitted that the assessee has acquired

Dy Commissioner of Income Tax CC-5(2), Mumbai vs. Jet Privilege Private Limited, Mumbai

In the result, the appeals for AY 2015-16 to 2018-19 & 2021-22 of the assessee, revenue, and Cross Objections of the assessee are allowed for statistical purposes

ITA 2162/MUM/2023[2015-2016]Status: DisposedITAT Mumbai11 Nov 2024AY 2015-2016

Bench: Shri Anikesh Banerjee, Jm & Ms Padmavathy S, Am

Section 32(1)

admissible to the assessee. 6.14 It is pertinent to note that the assessee company in its reply has submitted that the claim of depreciation on goodwill is an allowable expenditure as per the provisions of sec. 32(1) of the Act, and the same is covered by the decision ... 103/Mum/2023 Jet Privilege Pvt. Ltd. 9. The ld. AR at the outset submitted that the AO has denied the depreciation on goodwill claimed by the assessee by treating the entire transaction of slum sale as demerger which is factually incorrect. The ld. AR further submitted that the assessee has acquired

Dy Commissioner of Income Tax CC-5(2), Mumbai vs. Jet Privilege Private Limited, Mumbai

In the result, the appeals for AY 2015-16 to 2018-19 & 2021-22 of the assessee, revenue, and Cross Objections of the assessee are allowed for statistical purposes

ITA 2161/MUM/2023[2018-2019]Status: DisposedITAT Mumbai11 Nov 2024AY 2018-2019

Bench: Shri Anikesh Banerjee, Jm & Ms Padmavathy S, Am

Section 32(1)

admissible to the assessee. 6.14 It is pertinent to note that the assessee company in its reply has submitted that the claim of depreciation on goodwill is an allowable expenditure as per the provisions of sec. 32(1) of the Act, and the same is covered by the decision ... 103/Mum/2023 Jet Privilege Pvt. Ltd. 9. The ld. AR at the outset submitted that the AO has denied the depreciation on goodwill claimed by the assessee by treating the entire transaction of slum sale as demerger which is factually incorrect. The ld. AR further submitted that the assessee has acquired

Dy Commissioner of Income Tax CC-5(2), Mumbai vs. Jet Privilege Private Limited, Mumbai

In the result, the appeals for AY 2015-16 to 2018-19 & 2021-22 of the assessee, revenue, and Cross Objections of the assessee are allowed for statistical purposes

ITA 2160/MUM/2023[2016-2017]Status: DisposedITAT Mumbai11 Nov 2024AY 2016-2017

Bench: Shri Anikesh Banerjee, Jm & Ms Padmavathy S, Am

Section 32(1)

admissible to the assessee. 6.14 It is pertinent to note that the assessee company in its reply has submitted that the claim of depreciation on goodwill is an allowable expenditure as per the provisions of sec. 32(1) of the Act, and the same is covered by the decision ... 103/Mum/2023 Jet Privilege Pvt. Ltd. 9. The ld. AR at the outset submitted that the AO has denied the depreciation on goodwill claimed by the assessee by treating the entire transaction of slum sale as demerger which is factually incorrect. The ld. AR further submitted that the assessee has acquired

Jet Privilege Private Limited, Mumbai vs. Deputy Commissioner of Income Tax, Central Circle-5(2) (Ershtwhile Deputy Commissioner of Income-Tax-10(2)(1), Mumbai

In the result, the appeals for AY 2015-16 to 2018-19 & 2021-22 of the assessee, revenue, and Cross Objections of the assessee are allowed for statistical purposes

ITA 1956/MUM/2023[2018-19]Status: DisposedITAT Mumbai11 Nov 2024AY 2018-19

Bench: Shri Anikesh Banerjee, Jm & Ms Padmavathy S, Am

Section 32(1)

admissible to the assessee. 6.14 It is pertinent to note that the assessee company in its reply has submitted that the claim of depreciation on goodwill is an allowable expenditure as per the provisions of sec. 32(1) of the Act, and the same is covered by the decision ... 103/Mum/2023 Jet Privilege Pvt. Ltd. 9. The ld. AR at the outset submitted that the AO has denied the depreciation on goodwill claimed by the assessee by treating the entire transaction of slum sale as demerger which is factually incorrect. The ld. AR further submitted that the assessee has acquired

Jet Privilege Private Limited, Mumbai vs. Deputy Commissioner of Income Tax, Central Circle-5(2) (Ershtwhile Deputy Commissioner of Income-Tax-10(2)(1), Mumbai

In the result, the appeals for AY 2015-16 to 2018-19 & 2021-22 of the assessee, revenue, and Cross Objections of the assessee are allowed for statistical purposes

ITA 1955/MUM/2023[2017-2018]Status: DisposedITAT Mumbai11 Nov 2024AY 2017-2018

Bench: Shri Anikesh Banerjee, Jm & Ms Padmavathy S, Am

Section 32(1)

admissible to the assessee. 6.14 It is pertinent to note that the assessee company in its reply has submitted that the claim of depreciation on goodwill is an allowable expenditure as per the provisions of sec. 32(1) of the Act, and the same is covered by the decision ... 103/Mum/2023 Jet Privilege Pvt. Ltd. 9. The ld. AR at the outset submitted that the AO has denied the depreciation on goodwill claimed by the assessee by treating the entire transaction of slum sale as demerger which is factually incorrect. The ld. AR further submitted that the assessee has acquired

Jet Privilege Private Limited, Mumbai vs. Deputy Commissioner of Income Tax, Central Circle-5(2) (Ershtwhile Deputy Commissioner of Income-Tax-10(2)(1), Mumbai

In the result, the appeals for AY 2015-16 to 2018-19 & 2021-22 of the assessee, revenue, and Cross Objections of the assessee are allowed for statistical purposes

ITA 1954/MUM/2023[2016-2017]Status: DisposedITAT Mumbai11 Nov 2024AY 2016-2017

Bench: Shri Anikesh Banerjee, Jm & Ms Padmavathy S, Am

Section 32(1)

admissible to the assessee. 6.14 It is pertinent to note that the assessee company in its reply has submitted that the claim of depreciation on goodwill is an allowable expenditure as per the provisions of sec. 32(1) of the Act, and the same is covered by the decision ... 103/Mum/2023 Jet Privilege Pvt. Ltd. 9. The ld. AR at the outset submitted that the AO has denied the depreciation on goodwill claimed by the assessee by treating the entire transaction of slum sale as demerger which is factually incorrect. The ld. AR further submitted that the assessee has acquired

Jet Privilege Private Limited, Mumbai vs. Deputy Commissioner of Income Tax, Central Circle-5(2) (Ershtwhile Deputy Commissioner of Income-Tax-10(2)(1), Mumbai

In the result, the appeals for AY 2015-16 to 2018-19 & 2021-22 of the assessee, revenue, and Cross Objections of the assessee are allowed for statistical purposes

ITA 1953/MUM/2023[2015-2016]Status: DisposedITAT Mumbai11 Nov 2024AY 2015-2016

Bench: Shri Anikesh Banerjee, Jm & Ms Padmavathy S, Am

Section 32(1)

admissible to the assessee. 6.14 It is pertinent to note that the assessee company in its reply has submitted that the claim of depreciation on goodwill is an allowable expenditure as per the provisions of sec. 32(1) of the Act, and the same is covered by the decision ... 103/Mum/2023 Jet Privilege Pvt. Ltd. 9. The ld. AR at the outset submitted that the AO has denied the depreciation on goodwill claimed by the assessee by treating the entire transaction of slum sale as demerger which is factually incorrect. The ld. AR further submitted that the assessee has acquired

M/S. Ritu Housing Ltd, Kolkata vs. ACIT, Cir-13(2), Kolkata

In the result, the appeal of the assessee isallowed

ITA 185/KOL/2023[2016-17]Status: HeardITAT Kolkata30 Oct 2024AY 2016-17

Bench: Shri Rajesh Kumar, Accountant Member Shri Sonjoy Sarma (Judicial Member)

Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 250Section 32Section 43(6)

facts, in disallowing/upholding the disallowance of appellant's claim for depreciation of Rs. 47,93,198/- that had been claimed by way of "depreciation on goodwill" that got generated, following amalgamation of (i) Pallabi Goods Pvt. Ltd. and (ii) Sunglow Vanijya Pvt. Ltd. in terms of approval granted ... statements for the A.Y. in question. One of the key issues raised by the Assessing Officer during the assessment proceedings was claim of depreciation on goodwill amount at ₹ 47,93,198/- which arise to the amalgamation of two companies namely M/s Pallavi Goods Pvt. Ltd. and M/s Sunglow Vanijya

Autodesk India Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Circle-1(1)(1), Bangalore

The appeal of the assessee is allowed

ITA 1855/BANG/2024[2018-19]Status: DisposedITAT Bangalore30 Oct 2024AY 2018-19

Bench: Shri George George K. & Ms. Padmavathy S.

For Appellant: Ms.Tanmaya, ARFor Respondent: Ms.Neha Sahay, JCIT-DR
Section 143(3)Section 234CSection 250Section 274

under section 250 of the Income Tax Act, 1961 ('the Act'), is bad in law and on facts. 2. Disallowance of depreciation on goodwill of INR 31,713,006 2 Autodesk India Private Limited. 2.1 The Ld. CIT(A) erred in not allowing depreciation ... completed the assessment under section 143(3) r.w.s.144B of the Income Tax Act 1961 (the Act) wherein the AO made the disallowance of depreciation on goodwill to the tune of Rs.31,713,006. On further appeal the CIT(A) confirmed the disallowance made by the AO. The assessee

Assistant Commissioner of Income Tax, Indore vs. Commander Industries Private Limited, Indore

ITA 24/IND/2024[2020-21]Status: DisposedITAT Indore25 Oct 2024AY 2020-21
Section 139(1)Section 142(1)Section 143(2)Section 32(1)Section 43(1)Section 43(6)(c)Section 47

issued show cause notice u/s 142(1) requiring the assessee to submit clarification/show cause as to why disallowance of claim of depreciation on goodwill as a result of amalgamation/merger should not be made. The assessee filed its reply dated 30.03.2022. The AO noted that the assessee has claimed depreciation ... held that when the goodwill was not shown in the books of the amalgamating companies then the claim of depreciation on goodwill is not allowable. On appeal the CIT(A) has allowed the claim of depreciation on goodwill by following various decisions /judgments of Hon'ble Supreme Court as well

ACIT, Circle-1(1)(1), Ahmedabad, Vejalpur vs. Aia Engineering Limited, Ahmedabad

In the result, the appeal filed by the Revenue is dismissed, whereas the appeal filed by the assessee is allowed

ITA 532/AHD/2024[2016-17]Status: DisposedITAT Ahmedabad21 Oct 2024AY 2016-17

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarआयकर अपील सं / Ita No. 397/Ahd/2024 िनधा"रण वष"/Assessment Year: 2016-17 बनाम Aia Engineering Limited, Dcit Vs. 115, Gvmm Estate, Odhav Road, Circle-1(1)(1), Odhav, Ahmedabad-382415 Ahmedabad Pan : Aabca 2777 J आयकर अपील सं / Ita No. 532/Ahd/2024 िनधा"रणवष"/Assessment Year: 2016-17 बनाम Aia Engineering Limited, Acit, Vs. 115, Gvmm Estate, Odhav Road, Circle-1(1)(1), Odhav, Ahmedabad-382415 Ahmedabad Pan : Aabca 2777 J अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" "" यथ" "" "" यथ" यथ"/ (Respondent) यथ" िनधा"रती की ओर से / Assessee By : Shri Tushar Hemani, Sr. Advocate & Shri Parimalsinh B. Parmar, Ar ""थ" की ओर से / Revenue By : Shri Pratik Sharma, Sr Dr & Shri Sudhendu Das, Cit-Dr तारीख/Date Of Hearing : 09.10.2024 सुनवाई क" क" तारीख सुनवाई सुनवाई सुनवाई क" क" तारीख तारीख घोषणा क" क" तारीख तारीख /Date Of Pronouncement: 21.10.2024 घोषणा घोषणा घोषणा क" क" तारीख तारीख आदेश आदेश/O R D E R आदेश आदेश

For Appellant: Shri Tushar Hemani, Sr. Advocate &For Respondent: Shri Pratik Sharma, Sr DR &
Section 154Section 250Section 32

goodwill generated on amalgamation. 2. The Ld. CIT(A) has erred in law and on facts of the case in not appreciating that depreciation on goodwill has been allowed in the preceding years. It is well settled that no disallowance can be made for depreciation claimed on opening ... Radhaswoami Satsang Vs. CIT, 193 ITR 0321 (SC); c. Bharat Sanchar Nigam Ltd – 283 ITR 273 (SC) (iii) That, depreciation on goodwill arising consequent to the scheme of amalgamation approved by the Hon’ble High Court of Gujarat was allowable in view of the settled legal position. Reliance was placed

Asst. Commissioner of Income-Tax 6(1)(2), Mumbai vs. Franklin Templeton Asset Management (India) Pvt. Ltd., Mumbai

In the result appeal filed by the learned AO is dismissed

ITA 2727/MUM/2024[2015-16]Status: DisposedITAT Mumbai07 Oct 2024AY 2015-16

Bench: Shri Prashant Maharishi, Am & Shri Sunil Kumar Singh, Jm A.Y.2015-16 Asst Commissioner Of Income Franklin Templeton Asset Tax, Management (I) Pvt. Ltd., Circle 6(1)(2), One International Centre, Tower 2, 12Th 13Th Floor, Mumbai Vs . Senapati Bapat Marg, Elphinstone (W), Delisle Road, S.O., Mumbai 400013 (Appellant) (Respondent) Pan Aaact 1609B Assessee By Shri Anish Thacker & Lekh Mehta Revenue By Shri Anil Sant- Addl., Cit(Dr), 22Nd July, 2024 Date Of Hearing 07Th October, 2024 Date Of Pronouncement

Section 143Section 144CSection 37

aggrieved with that order has preferred this appeal raising 2 is of appeal. The first ground of appeal is with respect to the depreciation of goodwill of Rs. 19,607,917/– allowed by the learned CIT – A which was disallowed by the learned AO stop second issue is with respect ... Franklin Templeton Asset Mangement computing the total income of the assessee at Rs. 1,946,294,080 and he disallowed the claim of depreciation on goodwill and launch expenses amounting to Rs.19,607,917/– and Rs. 76,317,661/–. 4. On appeal before the learned CIT – A both the above

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)

being heard to the assessee. 2. For the learned CIT (A) erred in confirming the action of the Assessing Officer in disallowing depreciation on goodwill when the same has always been allowed in earlier years and was duly allowable under the law.” 03. Brief facts of the case are that ... learned Assessing Officer during the course of assessment proceedings observed that the assessee has claimed depreciation on goodwill at the rate of 25% at ₹59,32,617/- on the Written Down Value (WDV) as on 1st April, 2015 of ₹2,37,30,469/-. The ld. Assessing Officer observed

DCIT-14.1.1, Mumbai vs. Amcor Flexibles India Pvt. Ltd, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 3842/MUM/2024[2013-14]Status: DisposedITAT Mumbai06 Sept 2024AY 2013-14

Bench: SHRI AMIT SHUKLA (Judicial Member), SMT RENU JAUHRI (Accountant Member)

Section 142(1)Section 143(2)Section 143(3)Section 147Section 148Section 148ASection 250

dated 11.12.2021 along with reasons for reopening. As per the reasons for reopening, the assessment was reopened to disallow the depreciation on goodwill amounting to Rs.2,37,83,195 on the ground that the amount pertaining to goodwill has been impaired in the books of account and therefore the depreciation ... National Faceless Assessment Centre issued a show-cause notice on 02.05.2023 and 10.05.2023 asking the assessee to show cause as to why the depreciation on goodwill of Rs. 2,37,83,195 should not be disallowed. In response to the same, the assessee filed its detailed submission vide letter dated

ITO, Cw-1(1), Chennai vs. Inspirisys Solutions Ltd, Kilpauk

The appeals of the Revenue stand dismissed

ITA 9/CHNY/2022[2012-13]Status: DisposedITAT Chennai26 Jul 2024AY 2012-13

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita Nos.9,10 & 11/Chny/2022 (िनधा"रणवष" / Assessment Years: 2012-13, 2014-15 & 2015-2016) & C.O.Nos.5, 6 &7/Chny/2023 (In Ita Nos.9,10 & 11/Chny/2022) The Income Tax Officer, Vs. M/S. Inspirisys Solutions Limited, Corporate Ward 1(1) First Floor, New Door Nos. 57,59,63 & 64, Chennai 600 034. Dowlath Towers, Taylors Road, Kilpauk, Chennai 600 010. [Pan: Aaaca 5622M] (अपीलाथ"/Appellant) (Respondent/ Cross Objector) Department By : Shri. Nilay Baran Som, Irs, Cit. Shri. Arv Srinivasan, Irs, Addl. Cit Assessee By : Shri. N.V. Balaji, Advocate सुनवाई क" तार"ख/Date Of Hearing : 20.06.2024 घोषणा क" तार"ख /Date Of Pronouncement : 26.07.2024

For Appellant: Shri. N.V. Balaji, AdvocateFor Respondent: Shri. Nilay Baran Som, IRS, CIT
Section 14ASection 253

Disallowance of excess depreciation : Rs.1,02,23,595/- on temporary partitions v) Disallowance u/s 36(i)(iii) : Rs.36,22,201/- vi) Disallowance of depreciation on goodwill : Rs.3,17,83,754/- FIRST WE WILL TAKE UP REVENUE APPEALS ISSUE WISE:- 5. Depreciation on goodwill: Assessee had acquired the Software Business Division

ITO, Cw-1(1), Chennai vs. Inspirisys Solutions Ltd, Chennai

The appeals of the Revenue stand dismissed

ITA 11/CHNY/2022[2015-16]Status: DisposedITAT Chennai26 Jul 2024AY 2015-16

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita Nos.9,10 & 11/Chny/2022 (िनधा"रणवष" / Assessment Years: 2012-13, 2014-15 & 2015-2016) & C.O.Nos.5, 6 &7/Chny/2023 (In Ita Nos.9,10 & 11/Chny/2022) The Income Tax Officer, Vs. M/S. Inspirisys Solutions Limited, Corporate Ward 1(1) First Floor, New Door Nos. 57,59,63 & 64, Chennai 600 034. Dowlath Towers, Taylors Road, Kilpauk, Chennai 600 010. [Pan: Aaaca 5622M] (अपीलाथ"/Appellant) (Respondent/ Cross Objector) Department By : Shri. Nilay Baran Som, Irs, Cit. Shri. Arv Srinivasan, Irs, Addl. Cit Assessee By : Shri. N.V. Balaji, Advocate सुनवाई क" तार"ख/Date Of Hearing : 20.06.2024 घोषणा क" तार"ख /Date Of Pronouncement : 26.07.2024

For Appellant: Shri. N.V. Balaji, AdvocateFor Respondent: Shri. Nilay Baran Som, IRS, CIT
Section 14ASection 253

Disallowance of excess depreciation : Rs.1,02,23,595/- on temporary partitions v) Disallowance u/s 36(i)(iii) : Rs.36,22,201/- vi) Disallowance of depreciation on goodwill : Rs.3,17,83,754/- FIRST WE WILL TAKE UP REVENUE APPEALS ISSUE WISE:- 5. Depreciation on goodwill: Assessee had acquired the Software Business Division