“intangible assets”

Abhay Ispat (India) Private Limited, Mumbai vs. Principal Commissioner of Income Tax Officer, Mumbai - 6, Mumbai

In the result, the appeal by the assessee is allowed

Bench: Shri Om Prakash Kantshri Sandeep Singh Karhail

repairs and insurance of plant, machinery and furniture. • Section 32 provides for depreciation on tangible assets like building, machinery, plant, furniture and also on intangible assets like know-how, patents, trademarks, licenses. • Section 33 allows development rebate on machinery, plants and ships. • Section 34 states conditions for depreciation and development

Abm Knowledgeware Limited, Mumbai vs. Assessing Officer Circle 4(1)(1), Mumbai

In the result, the appeal filed by the assessee stands partly

Bench: Smt. Beena Pillai () & Shri Omkareshwar Chidara ()

repairs and insurance of plant, machinery and furniture • Section 32 provides for depreciation on tangible assets like building, machinery, plant, furniture and also on intangible assets like know-how, patents, trademarks, licenses. • Section 33 allows development rebate on machinery, plants and ships. • Section 34 states conditions for depreciation and development

Thermo Fisher Scientific India Pvt Ltd., Mumbai vs. Dy CIT 15 (3)(1), Mumbai

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SHRI OMKARESHWAR CHIDARA (Accountant Member)

supply contracts are not self- generated by GSK and have not been transferred to the Appellant  Manufacturing and supply contracts are not an intangible asset as per Accounting Standard (AS)-26 issued by the Institute of Chartered Accountants of India 2.4. Without prejudice to para 2.1 and 2.3 above ... learned DCIT and Hon'ble DRP erred in not considering the value of manufacturing contracts as Goodwill acquired from GSK, which is an intangible asset eligible for deprecation under section 32(1) r.w.s. 2(11) of the IT Act. 2.5. Without prejudice to para 2.2 and 2.3 above, the learned

B. Arunkumar Capital & Credit Services Pvt Ltd, Mumbai vs. Principal Commissioner of Income Tax 3, Mumbai

In the result the appeal filed by the assessee stands partly

Bench: Smt. Beena Pillai () & Shri Omkareshwar Chidara ()

repairs and insurance of plant, machinery and furniture • Section 32 provides for depreciation on tangible assets like building, machinery, plant, furniture and also on intangible assets like know- how, patents, trademarks, licenses. • Section 33 allows development rebate on machinery, plants and ships. • Section 34 states conditions for depreciation and development

Glitch Media Private Limited, Mumbai vs. Deputy Commissioner of Income Tax - 1(3)(1), Mumbai

In the result the appeal filed by the assessee stands partly

Bench: Smt. Beena Pillai () & Shri Girish Agrawal ()

repairs and insurance of plant, machinery and furniture • Section 32 provides for depreciation on tangible assets like building, machinery, plant, furniture and also on intangible assets like know- how, patents, trademarks, licenses. • Section 33 allows development rebate on machinery, plants and ships. • Section 34 states conditions for depreciation and development

Mahadhan Agritech Limited (Formerly Known As Smartchem Technologies Ltd), Mumbai vs. Assistant Commissioner of Income Tax Central Circle 8(1), Mumbai

In the result, the appeals filed by the assessee are

Appeals) was not justified and grossly erred in confirming the denial of the claim of depreciation on goodwill and or other intangible assets while computing total income under the normal provisions of the Act. Ground 3 - That on the facts and in the circumstances of the case ... circumstances of the case, the Ld. CIT(Appeals) was not justified and grossly erred in confirming addition of depreciation on goodwill and/or other intangible assets while computing book profit u/s 115JB of the Act. Ground 7 - That on the facts and in the circumstances of the case

Mahadhan Agritech Limited (Formerly Known As Smartchem Technologies Limited ), Mumbai vs. Deputy Commissioner of Income Tax, Central Circle -8(1), Mumbai

In the result, the appeals filed by the assessee are allowed, and the appeal filed by the Revenue is dismissed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Appeals) was not justified and grossly erred in confirming the denial of the claim of depreciation on goodwill and or other intangible assets while computing total income under the normal provisions of the Act. Ground 3 - That on the facts and in the circumstances of the case ... circumstances of the case, the Ld. CIT(Appeals) was not justified and grossly erred in confirming addition of depreciation on goodwill and/or other intangible assets while computing book profit u/s 115JB of the Act. Ground 7 - That on the facts and in the circumstances of the case

DCIT Central Circle 8(1), Mumbai vs. Mahadhan Agritech Limited, Pune

In the result, the appeals filed by the assessee are allowed, and the appeal filed by the Revenue is dismissed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Appeals) was not justified and grossly erred in confirming the denial of the claim of depreciation on goodwill and or other intangible assets while computing total income under the normal provisions of the Act. Ground 3 - That on the facts and in the circumstances of the case ... circumstances of the case, the Ld. CIT(Appeals) was not justified and grossly erred in confirming addition of depreciation on goodwill and/or other intangible assets while computing book profit u/s 115JB of the Act. Ground 7 - That on the facts and in the circumstances of the case

Mahadhan Agritech Limited (Formerly Known As Smartchem Technologies Ltd, Mumbai vs. Commissioner of Income Tax(Appeal)--50, Mumai

In the result, the appeals filed by the assessee are allowed, and the appeal filed by the Revenue is dismissed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Appeals) was not justified and grossly erred in confirming the denial of the claim of depreciation on goodwill and or other intangible assets while computing total income under the normal provisions of the Act. Ground 3 - That on the facts and in the circumstances of the case ... circumstances of the case, the Ld. CIT(Appeals) was not justified and grossly erred in confirming addition of depreciation on goodwill and/or other intangible assets while computing book profit u/s 115JB of the Act. Ground 7 - That on the facts and in the circumstances of the case