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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

United Breweries Ltd, Bengaluru vs. Deputy Commissioner of Income Tax, Circle-7(1)(1), Bengaluru

ITA 2569/BANG/2017[2013-14]Status: DisposedITAT Bangalore01 Jun 2022AY 2013-14

Bench: Shri N.V. Vasudevan, Vice Preseident & Shri Padmavathy S

For Appellant: Shri K.R. Vasudevan, AdvocateFor Respondent: Shri Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru
Section 143(3)Section 92Section 92B(1)

No.2569/Bang/2017 Page 33 of 84 Corporate tax issues 34. The next ground for consideration is regarding depreciation on goodwill on the following grounds raised by the assessee:- “Grounds relating to Depreciation on Goodwill: 3.1 The learned AO has erred in law and on facts in disallowing Depreciation ... provisions of the Act; 35. The assessee in the return of income has claimed a sum of Rs.2,30,41,441 as depreciation on goodwill @ 25% as per the provisions of the Act on the opening WDV of Rs.14,95,54,349. Before the AO, the assessee has submitted that

Tata Communications Ltd, Mumbai vs. DCIT 1(3), Mumbai

In the result, the appeals of the assessee are allowed

ITA 1014/MUM/2015[2004-05]Status: DisposedITAT Mumbai31 May 2022AY 2004-05

Bench: Shri Vikas Awasthy & Shri Amarjit Singhita No.1014/Mum/2015 Tata Communication Vs. Deputy Commissioner Of Limited, (Formerly Videsh Income Tax-1(3) Sanchar Nigan Limited) Aayakar Bhavan, Videsh Sanchar Bhavan, Maharshi Karve Road, M.G. Road, Fort, Mumbai – 400 020 Mumbai – 400 001 स्थायी लेखा सं./ जीआइआर सं./ Pan/Gir No: Aaacv2808C Appellant .. Respondent

For Appellant: J.D. Mistry &For Respondent: Achal Sharma &
Section 143(3)Section 147Section 148Section 234DSection 35D

case of Sterling & Wilson P. Ltd. Vs. ACIT, Central-14(3)(2) held that where assessee filed details regarding claim of depreciation on goodwill in original assessment proceedings and A.O after considering same, allowed said claim, initiation of reassessment to disallow depreciation was nothing but change of opinion. With

Tata Communications Ltd, Mumbai vs. DCIT 1(3), Mumbai

In the result, the appeals of the assessee are allowed

ITA 5185/MUM/2014[2005-06]Status: DisposedITAT Mumbai31 May 2022AY 2005-06

Bench: Shri Vikas Awasthy & Shri Amarjit Singhita No.1014/Mum/2015 Tata Communication Vs. Deputy Commissioner Of Limited, (Formerly Videsh Income Tax-1(3) Sanchar Nigan Limited) Aayakar Bhavan, Videsh Sanchar Bhavan, Maharshi Karve Road, M.G. Road, Fort, Mumbai – 400 020 Mumbai – 400 001 स्थायी लेखा सं./ जीआइआर सं./ Pan/Gir No: Aaacv2808C Appellant .. Respondent

For Appellant: J.D. Mistry &For Respondent: Achal Sharma &
Section 143(3)Section 147Section 148Section 234DSection 35D

case of Sterling & Wilson P. Ltd. Vs. ACIT, Central-14(3)(2) held that where assessee filed details regarding claim of depreciation on goodwill in original assessment proceedings and A.O after considering same, allowed said claim, initiation of reassessment to disallow depreciation was nothing but change of opinion. With

Tata Communicatiosn Ltd ( Formerly Videsh Sanchar Nigam Ltd), Mumbai vs. DCIT 1(3), Mumbai

In the result, the appeals of the assessee are allowed

ITA 4486/MUM/2013[2003-04]Status: DisposedITAT Mumbai31 May 2022AY 2003-04

Bench: Shri Vikas Awasthy & Shri Amarjit Singhita No.1014/Mum/2015 Tata Communication Vs. Deputy Commissioner Of Limited, (Formerly Videsh Income Tax-1(3) Sanchar Nigan Limited) Aayakar Bhavan, Videsh Sanchar Bhavan, Maharshi Karve Road, M.G. Road, Fort, Mumbai – 400 020 Mumbai – 400 001 स्थायी लेखा सं./ जीआइआर सं./ Pan/Gir No: Aaacv2808C Appellant .. Respondent

For Appellant: J.D. Mistry &For Respondent: Achal Sharma &
Section 143(3)Section 147Section 148Section 234DSection 35D

case of Sterling & Wilson P. Ltd. Vs. ACIT, Central-14(3)(2) held that where assessee filed details regarding claim of depreciation on goodwill in original assessment proceedings and A.O after considering same, allowed said claim, initiation of reassessment to disallow depreciation was nothing but change of opinion. With

M/S. Te Connectivity Services India Private Limited, Bangalore vs. Assistant Commissioner of Income Tax, Circle-7(1)(1), Bangalore

In the result, the appeal by the assessee is partly allowed for statistical purposes

ITA 300/BANG/2021[2016-17]Status: DisposedITAT Bangalore26 May 2022AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillaiit(Tp)A No.300/Bang/2021 Assessment Year : 2016-17

For Appellant: Shri Sriram Sheshadri & Ms. Amulya K., CAsFor Respondent: Dr. Manjunath Karkihalli, CIT(DR)(ITAT), Bengaluru
Section 143(3)

Appellant for the Impugned AY amounted to INR 15.23 Crores. Subsequently, in determining the taxable income for the Impugned Year, the Appellant claimed depreciation on goodwill at the rate of 25% u/s. 32(1)(ii) of the Act, in its Return of Income furnished for the Impugned ... rejected on the ground that in the present case it is the valuation that is challenged and not the eligibility of depreciation on goodwill as a principle settled by the Hon'ble SC. 57. The AO rejected the value of goodwill by invoking the sixth proviso to Section

Bhavani Gems P. Ltd., Mumbai vs. Pr. CIT -5, Mumbai

Accordingly, appeal filed by the assessee is allowed

ITA 766/MUM/2021[2016-17]Status: DisposedITAT Mumbai29 Apr 2022AY 2016-17

Bench: Shri Prashant Maharishi, Am & Shri Amarjit Singh, Jm Bhavani Gems Private Limited The Pr. Commissioner Of Income Dw–1370, G–Block West Core, Tax–5, Room No. 515, 5Th Floor, Bharat Diamond Bourse, Bandra Aayakar Bhavan, M.K. Road, Vs. Kurla Complex, Bandra (East), Mumbai–400 020 Mumbai–400 051 (Appellant) (Respondent) Pan No. Aaecb9471D

For Appellant: Shri Vartik Choksi, ARFor Respondent: Shri Dr. Mahesh Akhade, CIT DR
Section 143(1)Section 143(3)Section 263

resident is made. It was also noted that the Bhavani Gems Pvt. Ltd.; A.Y. 16–17 assessment order dated 11.11.2018 has also allowed depreciation on goodwill of Rs. 4.87 crores which was claimed self- generated goodwill is also allowed. Therefore, the assessment order passed is erroneous ... risk assessment scrutiny case, and the learned PCIT has correctly invoked the provisions of section 263 of the Act. On the issue of depreciation of goodwill, he supported the order of the learned PCIT. He further stated that there is no infirmity in the order passed by the learned PCIT

DCIT 6 (3)(2), Mumbai vs. M/S Kilitch Healthcare India Ltd., Mumbai

In the result Revenue’s appeal is dismissed and assessee’s cross objection is held to be infructuous

ITA 7061/MUM/2019[2015-16]Status: DisposedITAT Mumbai23 Mar 2022AY 2015-16
Section 143(3)Section 14ASection 32Section 56(2)(vii)Section 56(2)(viia)Section 56(2)(viib)

India Ltd. 2. "On the facts and circumstances of the case and in law, the Ld.CIT(A) erred in deleting the addition of depreciation on goodwill of Rs 2,49,51,468/- u/s 32(l)(ii) of the Act." 3. "On the facts and circumstances of the case ... assessing total income at Rs.77,80,74,240 after making addition of Rs.33,26,40,000 u/s. 56(2)(viib), disallowance of depreciation on goodwill of Rs.2,49,51,468, disallowance of Rs.40,03,820 u/s. 14A and addition of Rs.41,94,79,280 u/s. 56(2)(viia

Dhl Logistics P.Ltd, Mumbai vs. DCIT Cir 9(3)(1), Mumbai

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

ITA 7286/MUM/2018[2014-15]Status: DisposedITAT Mumbai23 Mar 2022AY 2014-15

Bench: Shri Pramod Kumar & Shri Pavan Kumar Gadaledhl Logistics Pvt Ltd Vs. Acit – 9(3)(1) 201A, Silver Utopia, Room No. 215, Cardinal Gracias Road 2Nd Floor, Aayakar Chakala, Andheri (E) Bhavan, M.K.Road, Mumbai – 400099 Mumbai – 400020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacm6824A Appellant .. Respondent Appellant By : Shri. Madhur Agarwal.Ar Respondent By : Dr. Yogesh Kamat.Cit.Dr Date Of Hearing 27.01.2022 Date Of Pronouncement 15.03.2022 आदेश / O R D E R Per Pavan Kumar Gadale Jm:

For Appellant: Shri. Madhur Agarwal.ARFor Respondent: Dr. Yogesh Kamat.CIT.DR
Section 143(3)Section 144C(5)Section 92D

transferred to DHL Supply Chain India Pvt. Ltd. in terms of D-Merger under Court Order] Seventh Year claim for Depreciation On Goodwill Resulting. From Acquisition Of Business Unit Of Lee & Muirhead Pvt. Ltd. In A.Y. 2008-09. 3.1 On the facts and in the circumstances of the case ... passed the draft assessment order u/s 143(3) r.w.s 144C(1) of the Act dated 13.12.2017 with the transfer pricing adjustment, disallowance of depreciation on goodwill, disallowance of employees contribution to PF and ESI and interest on delayed payments of TDS. The assessee has filed the objections in Form No.35A

M/S Te Connectivity India Private Limited, Bangalore vs. Assistant Commissioner of Income Tax Circle-2 Ltpu, Bangalore

In the result, the appeal by the assessee is treated as partly allowed for 37

ITA 3373/BANG/2018[2014-15]Status: DisposedITAT Bangalore25 Feb 2022AY 2014-15

Bench: Shri N. V. Vasudevan & Shri B. R. Baskaranit(Tp)A No.3373/Bang/2018 Assessment Year : 2014-15 M/S. Te Connectivity India Private Limited, Vs. Acit, Te Park, 22B, Doddenakundi Corporation, 2Nd Circle - 2, Large Taxpayer Unit, Phase, Industrial Area, Whitefield Road, Bengaluru. Bengaluru – 560 048. Pan : Aabct 7374 C Assessee Respondent Assessee By : Shri. Sriram Seshadri, Advocate Revenue By : Shri. Sumer Singh Meena, Cit(Dr)(Itat), Bengaluru Date Of Hearing : 22.02.2022 Date Of Pronouncement : 25.02.2022 O R D E R Per N V Vasudevan

For Appellant: Shri. Sriram Seshadri, AdvocateFor Respondent: Shri. Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru
Section 143(3)Section 144C

which we have already adjudicated in the earlier paragraphs of this order. As far as ground No.13 is concerned, the same relates to depreciation on goodwill claimed by the assessee which was rejected by the IT(TP)A No.3373/Bang/2018 Page 21 of 33 revenue authorities. Depreciation on Goodwill was claimed ... Depreciation u/s 32 of the 3.33 [Refer ITR in Pg. 57 of Act @ 25% the Paperbook - Part A] 25. The claim for depreciation on Goodwill was disallowed by the AO both depreciation on G/W arising on merger as well as on the business acquisition on slump sale basis, alleging that

Travelport International Operations Limited, Berkshire vs. ACIT, Circle-3(1)(1), Int. Tax-3, New Delhi

In the result, the appeal of the assessee is partly allowed

ITA 9711/DEL/2019[2016-17]Status: DisposedITAT Delhi21 Feb 2022AY 2016-17

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year: 2016-17

For Appellant: Shri Ajit Kumar Jain, CAFor Respondent: Ms. Anupama Anand, CIT DR
Section 143(3)Section 144C(13)Section 154Section 40Section 40a

amortization/depreciation on Goodwill and Trademark/tradename has been claimed in the UK corporate tax return of Company. b) No amount is debited as depreciation on Goodwill and Trademark/tradename in the global accounts therefore there is no base to determine the proportionate expenses to be Travelport International Operations Limited vs ACIT

M/S. Altimetrik India Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Circle- 1(1)(1), Bangalore

In the result appeal filed by the assessee stands allowed

ITA 2511/BANG/2019[2015-16]Status: DisposedITAT Bangalore03 Feb 2022AY 2015-16
For Appellant: Shri Sharath Rao, AdvocateFor Respondent: Shri Pradeep Kumar, CIT (DR)
Section 143(1)Section 143(3)Section 32(1)(ii)Section 43(1)Section 43(6)(c)

learned Assessing Officer ("AO"), to the extent prejudicial to the Appellant, are bad in law and on facts. 2. Disallowance of depreciation on Goodwill 2.1. That on the fact and circumstances of the case, the Hon'ble DRP and the learned AO erred in law in Page ... 2511/Bang/2019 disallowing the depreciation on goodwill by placing reliance on the sixth proviso to section 32(1)(ii) of the Income-tax Act, 1961 ("the Act"). 2.2. The Hon'ble DRP has erred in law in holding that the Appellant's claim of depreciation on Goodwill is not in accordance

ACIT Cir- 2(1) (1), Mumbai vs. Infrasoft Technologies Ltd, Mumbai

In the result, the appeal filed by the revenue is hereby dismissed

ITA 261/MUM/2021[2016-17]Status: DisposedITAT Mumbai31 Jan 2022AY 2016-17
For Appellant: Shri Anuj KishnadwalaFor Respondent: Shri Mehul Jain (Sr. AR)
Section 143(2)Section 32(1)

following grounds: - “1. Whether on the facts and circumstances of the case and in law, the learned CIT(A) has erred in allowing depreciation on goodwill and customer contracts under section 32(1) of the Income- tax Act, 1961 (“the Act”) amounting to Rs.1,53,72,581/- on the ground ... revenue has filed the present appeal before us. ISSUE NO.1 2 A.Y.2016-17 4. Under this issue the revenue has challenged the allowance of depreciation on goodwill and customer contracts under section 32(1) of the Income tax Act, 1961 amounting of Rs.1,53,72,581/-. Before going further, we deem

Geodis Overseas Pvt. Ltd., Gurgaon vs. DCIT, Circle-10(1), New Delhi

In the result, appeal of the Assessee is allowed

ITA 4771/DEL/2018[2013-14]Status: DisposedITAT Delhi10 Jan 2022AY 2013-14

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

For Appellant: Shri Vishal Kalra, AdvocateFor Respondent: Shri Kumar Padmapani Bora, Sr. DR
Section 234BSection 234DSection 250(6)Section 32Section 32(1)(ii)

That the CIT(A) erred on facts and in law in confirming the addition made by the AO in relation to disallowance of depreciation on goodwill amounting to INR 1,55,34,890 claimed under section 32(1)(ii) of the Act. 3. That on the facts and circumstances ... admitted for adjudication. 5. So far as the grounds of appeal number.1 to 3 are concerned, the same relate to allowability of depreciation on goodwill. 5.1. Facts of the case, in brief, are that the assessee is a company engaged in the business of transportation of time sensitive packages, documents

Gbt India Private Limited, Delhi vs. National E-Assesment Centre, New Delhi

In the result, the appeal of the assessee is allowed and Stay application is accordingly held to be infructuous

ITA 462/DEL/2021[2016-17]Status: DisposedITAT Delhi06 Jan 2022AY 2016-17

Bench: Shri G.S. Pannu & Shri Amit Shukla(Through Video Conferencing)

For Appellant: Shri Himanshu Sinha, Adv. &For Respondent: Shri Surendra Pal
Section 143(3)Section 144C(13)

Supreme Court as the case may be. 3.2 Ground no 7 relates to the disallowance of Rs.82,048,398 on account of depreciation on goodwill acquired / purchased and capitalized in books of account on acquiring of Corporate Travel (‘CT’) division of American Express India Pvt. Ltd. (‘AEIPL’) on 'slump sale ... ITAT for AY 2015-16 and was decided in favour of the assessee in the following words: 31. In so far as the depreciation of goodwill is concerned, this issue is by now well settled by the decision of the Hon’ble Supreme Court in the case of CITv. Smifs

Aricent Technologies (Holdings) Ltd., New Delhi vs. Addl. CIT, Special Range- 1, New Delhi

The appeal of the assessee stands allowed in terms of

ITA 601/DEL/2021[2016-17]Status: DisposedITAT Delhi04 Jan 2022AY 2016-17
Section 143(3)Section 144Section 32(1)(i)

assessee was computed at Rs. 3,46,90,96,220/- after making certain additions and disallowances, which are as under:- i) Disallowance of depreciation on goodwill amounting toRs. 66,96,48,045/- claimed u/s 32(1)(i) of the Income Tax Act, 1961. on the Written Down Value ... Tribunal. 3.4That the Id. AO erred, in law and on facts and circumstances of the case in proposing to disallow depreciation on Goodwill by alleging that the Supreme Court in the case of CIT vs. Smifs Securities Ltd.: 348 ITR 302 does not give any clarity on the aspect

Srf Limited, New Delhi vs. ACIT, Circle- 1, Ltu, New Delhi

In the result, appeal of the assessee is partly allowed

ITA 6620/DEL/2018[2014-15]Status: DisposedITAT Delhi13 Dec 2021AY 2014-15

Bench: Sh. Anil Chaturvedi & Shri Kuldip Singh(Through Video Conferencing) Srf Limited Vs. Acit The Galleria, Dlf Mayur Circle – 1, Vihar, Unit No.236 & 237, Ltu 2Nd Floor, Mayur Place, New Delhi Noida Link Road, Mayur Vihar, Phase-I, Extension, Delhi-110 091 Pan : Aaacs 0206 P (Appellant) (Respondent) Assessee By Shri Pradeep Dinodia, C.A. Revenue By Ms. Meera Srivastava, Cit-D.R. Date Of Hearing: 16.09.2021 Date Of Pronouncement: 13.12.2021 Order Per Anil Chaturvedi, Am :

Section 115JSection 143(2)Section 143(3)Section 144C(5)Section 92C

allowance of brought forward losses of Rs.24,84,48,618/- which was claimed by assessee while filing the tax return. Disallowance of depreciation of Goodwill – Rs.25,53,577/- 17. The Ld. DRP/AO have erred in law and in facts and in the circumstances of the appellant by not granting ... appellant for purchase of business units from SRF Polymers. 18. The Hon’ble ITAT may be pleased to grant the allowance of depreciation on Goodwill of Rs.25,57,577/-. Computation of Book Profit under MAT 19. The Ld. AO has grossly erred in inadvertently taking the amount of book profit

DCIT, New Delhi vs. M/S Glf Lifestyle Pvt. Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 4556/DEL/2016[2012-13]Status: DisposedITAT Delhi09 Dec 2021AY 2012-13

Bench: Shri G.S.Pannu & Shri Kul Bharat[Assessment Year : 2012-13] Dcit, Vs Glf Lifestyle Pvt.Ltd., Circle-10(1), Flat No.3A/1, Taj Apartment, C.R.Building, Rao Tula Ram Marg, New Delhi-110002. New Delhi-110002. Pan-Aaecg3087E Appellant Respondent Appellant By Shri Ved Jain, Adv. Respondent By Shri Umesh Takyar, Sr.Dr Date Of Hearing 03.11.2021 Date Of Pronouncement 09.12.2021

Section 143(3)Section 32(1)Section 32(1)(ii)

circumstances of the case & in law, the ld.CIT(A) erred in deleting the addition of Rs.3,01,12,211/- on account of depreciation of goodwill as eligible for depreciation u/s 32(1)(ii) of the I.T.Act, 1961. 2. The appellant craves leave, to add, alter or amend any ground ... hearing.” 2. The only effective ground in this appeal is against the deleting the addition of Rs.3,01,12,211/- on account of depreciation of goodwill. [Assessment Year : 2012-13] 3. Facts giving rise to the present appeal are that the assessee filed its return of income declaring a loss

ACIT, Circle-8(1), New Delhi vs. Eltek Sgs Pvt. Ltd, New Delhi

In the result, both the appeals filed by the revenue are dismissed

ITA 7281/DEL/2018[2013-14]Status: DisposedITAT Delhi08 Sept 2021AY 2013-14

Bench: Sh. N. K. Billaiya & Ms. Suchitra Kamble(Through Video Conferencing)

Section 32

common grievance in both these appeals relate to the deletion of addition made by the AO on account of disallowance of depreciation on goodwill. 4. Briefly stated the facts of the case are that the appellant company underwent amalgamation with M/s. Valere Power India Limited pursuant to the order ... value of assets of the transferor company taken over, such excess shall debited to the goodwill account. Accordingly, the assessee claimed on depreciation on goodwill which claim was denied by the AO. 6. Assessee assailed the addition before the CIT(A) and reiterated its claim of depreciation strongly contended that

Exlservices.Com (India) Pvt. Ltd., New Delhi vs. DCIT, Ltu, Circle- 1, New Delhi

In the result, appeal of the assessee is partly allowed

ITA 7392/DEL/2018[2014-15]Status: DisposedITAT Delhi06 Sept 2021AY 2014-15

Bench: Sh. Anil Chaturvedi & Sh. Kul Bharat(Through Video Conferencing) Exlservices.Com (India) Vs. Acit Pvt. Ltd., Large Taxpayer Unit, 414, 4Th Floor, Plot No.10 Circle – 1, Nbcc Plaza & 11, Dlp Jasola Tower-B, Pushp Vihar, Dda District Centre, Saket, New Delhi New Delhi - 110025 Pan No. Aaace 5174 C (Appellant) (Respondent) Assessee By Shri Ajay Vohra, Sr. Adv. Shri Neeraj Jain, Adv. Shri Saksham Singhal, Adv. Revenue By Ms. Rinku Singh, Sr. D.R. Date Of Hearing: 31.08.2021 Date Of Pronouncement: 06.09.2021 Order Per Anil Chaturvedi, Am: This Appeal Filed By The Assessee Is Directed Against The Order Dated 31.08.2018 Passed By The Commissioner Of Income Tax (Appeals)-22, New Delhi Relating To Assessment Year 2014-15. 2. The Relevant Facts As Culled From The Material On Records Are As Under :

Section 143(3)Section 14ASection 155JSection 271(1)(c)

That on the facts and circumstances of the case and in law the CIT(A) has erred in disallowing depreciation on goodwill amounting to Rs. 7,10,40,132, merely following the appellate order for the assessment year 2013-14 and further erred in not following the order ... aforesaid grounds are dismissed. 6. He thereafter submitted that Ground No.2 and the sub grounds relates to the issue of disallowance of depreciation on Goodwill and the Ground No.3 and its sub grounds relates to disallowance u/s 14A r.w.r 8D of the Act. 7. We first take up Ground No.2

Wellisen Nutraceuticals Private Limited, Pune vs. ACIT Circle-27(2), New Delhi

The appeal of the assessee is partly allowed for statistical purpose

ITA 778/DEL/2020[2016-17]Status: DisposedITAT Delhi30 Mar 2021AY 2016-17

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

Section 250

Ld.CIT(A) has erred in upholding the addition of Rs.8,79,736 made by the AO on account of disallowance of claim for depreciation on goodwill. 3.1. Having regard to the facts and circumstances of the assessee’s case the addition of Rs. 8,79,736/0 so made may please