“intangible assets”

Pawan Hans Helicopters Ltd vs. DCIT, Special Range-27

In the result, both the appeals of the assessee are allowed

Bench: Sh. Amit Shukladr. B. R. R. Kumarita No. 419/Del/1994 : Asstt. Year: 1990-91 M/S Pawan Hans Helicopters Ltd., Vs Dcit, Corporate Office, Safdarjung Special Range-20, Airport, New Delhi New Delhi (Appellantt (Respondent) Pan No. Aaacp1561A Ita No. 319/Del/2001 : Asstt. Year: 1995-96 M/S Pawan Hans Helicopters Ltd., Vs Dcit, Corporate Office, Safdarjung Special Range-27, Airport, New Delhi New Delhi (Appellantt (Respondent) Pan No. Aaacp1561A

section 2(11) means, group of assets falling within a class of assets, comprising- (a) tangible assets, being buildings, machinery, plant or furniture; (b) intangible assets, being know-how, patents, copyrights, trade-marks, licenses, franchises or any other business or commercial rights of similar nature, [not being goodwill

Ge Capital Business Process Management Services Pvt. Ltd., New Delhi vs. DCIT, New Delhi

The appeal of the assessee is partly allowed for statistical purpose

Bench: Shri R. K. Panda & Ms Suchitra Kamblei.T.A. No. 403/Del/2017 (A.Y 2012-13) (Through Physical Hearing) Sbi Business Process Vs Dcit Management Services Pvt. Ltd. Circle 10(1) Earlier Known As C. R. Building, I. P. Estate, Ge Capital Business Process New Delhi Management Services Pvt. Ltd. 401, 402, 4Th Floor, Aggarwal Millennium Tower, E- 1,2,3, Netaji Subhash Place, Wazirpur, New Delhi Pan: Aabcg0222E (Appellant) (Respondent)

functions of the assessee company. Besides this, significant expenditure on Advertising and marketing expenses were made by this comparable company and there is significant intangible assets owned by this company. There is no segmental details available of this company. All these factors determine that Eclerx Services Limited ... also provided by GECC(USA). He, therefore, held that the acquisition of license granted by the licensor in itself is a capita asset, being “intangible asset”, which having long validity is capital in nature. We have gone through the End-User license agreement dated 07.07.2000 and we do not find

Bsc C&C Kurali Toll Road Ltd., New Delhi vs. DCIT, New Delhi

In the result, both appeals of the assessee are partly allowed

Bench: Shri G.S. Pannu & Shri Kul Bharat

contention that the appellant company has Rights in the developed Toll Road and the appellant is eligible for depreciation @ 25% under the head Intangible Assets. 2. That on the facts and circumstances of the case and in law, the Learned CIT (Appeals) has erred while confirming deduction of Grant ... including grant from NHAI amounting to Rs.43.92 crores. The assessee had claimed depreciation on the same @ 25% under the head intangible assets. He further submitted before the Assessing Officer it was claimed that the assessee is entitled for depreciation @ 25%. However, the Assessing Officer restricted it to 10% following

Bsc C&C Kurali Toll Road Ltd., New Delhi vs. DCIT, New Delhi

In the result, both appeals of the assessee are partly allowed

Bench: Shri G.S. Pannu & Shri Kul Bharat

contention that the appellant company has Rights in the developed Toll Road and the appellant is eligible for depreciation @ 25% under the head Intangible Assets. 2. That on the facts and circumstances of the case and in law, the Learned CIT (Appeals) has erred while confirming deduction of Grant ... including grant from NHAI amounting to Rs.43.92 crores. The assessee had claimed depreciation on the same @ 25% under the head intangible assets. He further submitted before the Assessing Officer it was claimed that the assessee is entitled for depreciation @ 25%. However, the Assessing Officer restricted it to 10% following

Future First Info. Servicees Pvt. Ltd, Gurgaon vs. DCIT, Circle- 9(2), New Delhi

In the result, the appeal of the Revenue is dismissed and appeal of the assessee is partly allowed

Bench: Shri Amit Shukla & Shri Prashant Maharishi

lager and bigger company in the area of development of software etc. hence non comparable. Considering the scale of operations and substantial intangible assets of this company amounting to Rs 19.03 crs as goodwill, 1 direct, the AO/TPO to exclude this company from the final set of comparables

Dentsply India Pvt Ltd vs. DCIT, New Delhi

The appeals of the assessee are allowed

Bench: Sh. Amit Shukladr. B. R. R. Kumarita No. 752/Del/2009 : Asstt. Year: 2002-03 Ita No. 1682/Del/2009 : Asstt. Year: 2003-04 Ita No. 4195/Del/2009 : Asstt. Year: 2004-05 Dentsply India Pvt. Ltd., Vs Dcit, Plot No. 263, Fies, Patparganj Circle-10(1), Industrial Area, Delhi-110092 New Delhi (Appellantt (Respondent) Pan No. Aaacd3171E Assessee By : Sh. Himanshu Sinha, Adv. Revenue By : Ms. Meera Srivastava, Cit Dr Date Of Hearing: 25.03.2021 Date Of Pronouncement: 04.05.2021

reseller purchases tangible property or obtain services from an A.E. and reseller does not physically alter the tangible goods and services or use any intangible assets to add substantial value to the property or services i.e., resale is made without any value addition having been made. Since in RPM only

Dentsply India Pvt. Ltd, New Delhi vs. DCIT, New Delhi

The appeals of the assessee are allowed

Bench: Sh. Amit Shukladr. B. R. R. Kumarita No. 752/Del/2009 : Asstt. Year: 2002-03 Ita No. 1682/Del/2009 : Asstt. Year: 2003-04 Ita No. 4195/Del/2009 : Asstt. Year: 2004-05 Dentsply India Pvt. Ltd., Vs Dcit, Plot No. 263, Fies, Patparganj Circle-10(1), Industrial Area, Delhi-110092 New Delhi (Appellantt (Respondent) Pan No. Aaacd3171E Assessee By : Sh. Himanshu Sinha, Adv. Revenue By : Ms. Meera Srivastava, Cit Dr Date Of Hearing: 25.03.2021 Date Of Pronouncement: 04.05.2021

reseller purchases tangible property or obtain services from an A.E. and reseller does not physically alter the tangible goods and services or use any intangible assets to add substantial value to the property or services i.e., resale is made without any value addition having been made. Since in RPM only

Dentsply India Pvt. Ltd, New Delhi vs. DCIT, New Delhi

The appeals of the assessee are allowed

Bench: Sh. Amit Shukladr. B. R. R. Kumarita No. 752/Del/2009 : Asstt. Year: 2002-03 Ita No. 1682/Del/2009 : Asstt. Year: 2003-04 Ita No. 4195/Del/2009 : Asstt. Year: 2004-05 Dentsply India Pvt. Ltd., Vs Dcit, Plot No. 263, Fies, Patparganj Circle-10(1), Industrial Area, Delhi-110092 New Delhi (Appellantt (Respondent) Pan No. Aaacd3171E Assessee By : Sh. Himanshu Sinha, Adv. Revenue By : Ms. Meera Srivastava, Cit Dr Date Of Hearing: 25.03.2021 Date Of Pronouncement: 04.05.2021

reseller purchases tangible property or obtain services from an A.E. and reseller does not physically alter the tangible goods and services or use any intangible assets to add substantial value to the property or services i.e., resale is made without any value addition having been made. Since in RPM only

ITO, Ward- 27(4), New Dlehi vs. Zexus Air Services Pvt. Ltd., Gurgaon

In the result, the appeal filed by the Revenue as well as the CO filed by the assessee are dismissed

Bench: Shri R.K. Panda & Ms. Suchitra Kambleassessment Year: 2014-15 Ito, Vs Zexus Air Services Pvt. Ltd., Ward-27(4), 148-149, Centrum Plaza, New Delhi. Sector-53, Dlf Phase-V, Gurgaon. Pan: Aaacz6541L Co No.121/Del/2018 (Ita No.2608/Del/2018) Assessment Year: 2014-15 Zexus Air Services Pvt. Ltd., Vs. Ito, 148-149, Centrum Plaza, Ward-27(4), Sector-53, Dlf Phase-V, New Delhi. Gurgaon. Pan: Aaacz6541L (Appellant) (Respondent) Assessee By : Shri Gaurav Bansal, Ca Revenue By : Smt. Sushma Singh, Cit-Dr Date Of Hearing : 31.03.2021 Date Of Pronouncement : 23.04.2021 Order Per R.K. Panda, Am: This Appeal Filed By The Revenue Is Directed Against The Order Dated 12Th January, 2018 Of The Cit(A)-9, New Delhi, Relating To Assessment Year 2014-15. Co No.121/Del/2018 The Assessee Has Filed The Co Against The Appeal Filed By The Revenue. For The Sake Of Convenience, These Were Heard Together & Are Being Disposed Of By This Common Order.

nature of Goodwill valued at Rs. 20 crores in the books of account of the appellant tantamounts to a self created and revalued intangible asset. The valuation of the goodwill is a business decisions which has to be left to the businessmen and the same is permissible within the provision ... making the following entries: Goodwill Dr. 20 crores Share Capital Cr. 20 crores 5.13 The limitation associated with such kind of self created/revalued intangible assets in the nature of goodwill is that they cannot be qualified for claiming any depreciation for the reason this intangible asset (goodwill) appearing

Geodis Overseas Pvt. Ltd., Gurgaon vs. DCIT, New Delhi

The appeal of the assessee is allowed

Bench: Shri N. K. Billaiya & Ms Suchitra Kamble

provisions of law, no depreciation is allowable on goodwill and the legislature provides that depreciation should be allowed on all other intangible assets other than goodwill. 41. We find, the Hon’ble Delhi High Court in the case of Areva T & D India Ltd. vs. DCIT ... Income Tax Act?" 42. We find, the Hon’ble Delhi High Court in the said decision has held that specified intangible assets, viz., business claims, business information, business records, contracts, employees and know-how acquired by assessee under slump sale agreement are in nature of 'business or commercial rights

Exlservice.Com(India) Private Limited, New Delhi vs. ACIT, Ltu, Circle-1, New Delhi

In the result, all the appeals of the assessee in ITA Nos

Bench: Shri N.K. Billaiya & Ms. Suchitra Kamble

parameters discussed in the assessment order. The main reason for disallowance of depreciation is that the assessee has not shown or established any such intangible assets or intellectual assets recognised in the books of accounts of the transferor. The Assessing Officer further observed that there is no question of transfer ... allowed on goodwill. The A.O. has disallowed depreciation on the ground that the assessee has failed to establish that any such intangible asset or intellectual asset was acquired by it. Reason for disallowance of depreciation was failure of the assessee to establish the existence of goodwill and the price / valuation

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

In the result, all the appeals of the assessee in ITA Nos

Bench: Shri N.K. Billaiya & Ms. Suchitra Kamble

parameters discussed in the assessment order. The main reason for disallowance of depreciation is that the assessee has not shown or established any such intangible assets or intellectual assets recognised in the books of accounts of the transferor. The Assessing Officer further observed that there is no question of transfer ... allowed on goodwill. The A.O. has disallowed depreciation on the ground that the assessee has failed to establish that any such intangible asset or intellectual asset was acquired by it. Reason for disallowance of depreciation was failure of the assessee to establish the existence of goodwill and the price / valuation

Exlservice.Com (India) P.Ltd, New Delhi vs. DCIT Ltu, Circle-1, New Delhi

In the result, all the appeals of the assessee in ITA Nos

Bench: Shri N.K. Billaiya & Ms. Suchitra Kamble

parameters discussed in the assessment order. The main reason for disallowance of depreciation is that the assessee has not shown or established any such intangible assets or intellectual assets recognised in the books of accounts of the transferor. The Assessing Officer further observed that there is no question of transfer ... allowed on goodwill. The A.O. has disallowed depreciation on the ground that the assessee has failed to establish that any such intangible asset or intellectual asset was acquired by it. Reason for disallowance of depreciation was failure of the assessee to establish the existence of goodwill and the price / valuation

Jx Nippon Two Lubricants India Pvt. Ltd, Gurgaon vs. DCIT Circle-2(1), Gurgaon

In the result, the appeal of the assessee is allowed

Bench: Sh. Amit Shukladr. B. R. R. Kumar(Through Video Conferencing) Ita No. 4985/Del/2019 :Asstt. Year : 2015-16 & Sa No. 985/Del/2019 :Asstt. Year : 2015-16 Jx Nippon Two Lubricants India Pvt. Vs Dcit, Ltd., Unit No. 1003, 10Th Floor, Vatika Circle-2(1), City Point, Mg Road, Gurgaon, Gurgaon-122001 Haryana-122001 (Appellant) (Respondent) Pan No. Aadcj3601L Assessee By :Sh. Nageswarrao, Adv. Revenue By:Sh. Vedprakash Mishra, Sr.Dr Date Of Hearing:13.01.2021 Date Of Pronouncement: 02.03.2021

deny Appellant’s legitimate claims on mere suspicions, conjectures and surmises. 4. That Ld. CIT(A) erred in dismissing appeal without considering various intangible assets acquired by Appellant under Business Transfer Agreement (“BTA”) and their apparent financial benefits to Appellant in early years of its operations. 5. That ... Assessing Officer referred to the valuation report filed by the assessee and pointed out that there was no reference with regard to the determination intangible asset in the valuation report. There was no material to support any valuation of intangibles acquired by the assessee. The Assessing Officer referred

El El Hotels & Investments Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal filed by the Revenue is dismissed

therefore depreciation is allowable. (d) The claim of payment made to ITC Ltd as revenue expenditure cannot be allowed. (e) The claim of acquiring intangible asset by way of payment of Rs.30.86 crores to ITC Ltd cannot be allowed. (f) The payment made to ITC Ltd of Rs.30.86 crores ... without prejudice arguments in the following order of preference:- 3 (a) The expenditure is revenue in nature; (b) The expenditure is for acquiring an intangible asset; and (c) The payment is made for improving the title of the hotel building. 5. So far as the argument that the expenditure

Evalueserve Sez (Gurgaon) Pvt. Ltd., Gurgaon vs. ACIT, New Delhi

The appeal of the assessee is allowed in part for statistical purposes and appeal of the Revenue is dismissed

Bench: Shri Anil Chaturvedi & Shri K. Narasimha Charyassessment Year: 2009-10

which it cannot carry out itsactivities. The assets might be clearly recognisable i.e. tangible (plant and machinery, equipment, building etc) or they might be intangible assets (brand-name, trademarks, technical know-how, patents, etc). Following is the list of assets used by EVS SEZ India: Tangible Assets The tangible assets ... land and carries out its operations on rented premises. Its tangible asset base comprises computers, office equipment, furniture and fittings, etc. Intangible Assets ’As EVS SEZ India operates in the research domain, human capital forms its core resource. However, the employees of EVS SEZ India typically only comprise undergraduates, graduates

DCIT, New Delhi vs. M/S. Evalueserve Sez (Gurgaon) Pvt. Ltd., New Delhi

The appeal of the assessee is allowed in part for statistical purposes and appeal of the Revenue is dismissed

Bench: Shri Anil Chaturvedi & Shri K. Narasimha Charyassessment Year: 2009-10

which it cannot carry out itsactivities. The assets might be clearly recognisable i.e. tangible (plant and machinery, equipment, building etc) or they might be intangible assets (brand-name, trademarks, technical know-how, patents, etc). Following is the list of assets used by EVS SEZ India: Tangible Assets The tangible assets ... land and carries out its operations on rented premises. Its tangible asset base comprises computers, office equipment, furniture and fittings, etc. Intangible Assets ’As EVS SEZ India operates in the research domain, human capital forms its core resource. However, the employees of EVS SEZ India typically only comprise undergraduates, graduates

DCIT, Circle-17(1), New Delhi vs. Mps Infotecnics Pvt. Ltd., New Delhi

In the result ground number 5 and 6 of the appeal of the learned assessing officer are dismissed

Bench: Shri H.S.Sidhu & Shri Prashant Maharishi(Through Video Conferencing) The Deputy Commissioner Of Vs. Mps Infotecnics Pvt. Ltd, Income Tax (Formerly Known As Visesh Circle-17(1), Infotecnic Ltd), 703, Arunachal New Delhi Building, 19, Barakhamba Road, Connaught Place, New Delhi Pan: Aaacv4805B (Appellant) (Respondent)

asset classified by the assessee as ‘software and intellectual property right’ by ignoring the rate of depreciation of 25% on intangible assets as prescribed under Rule -5 of the Income Tax Rules, 1962 (the rule) r.w. Appendix-I and IA? 2. Whether on the facts and in circumstances ... assessee was engaged in development of software for its use in the business and the same were capitalized as asset under head ‘software and intangible assets’ by the assessee? 3. Whether on the facts and in circumstances of the case, the Ld. CIT (A) is legally justified in deleting disallowance

Director of Income Tax vs. E Funds It Solution

The appeals are disposed of

Funds IT Solution Group Inc: Income will be attributed to the Indian PEs based on the ratio of certain developed and acquired tangible and intangible assets in India and outside India. Out of the total assets for the AY 2003-04 , 10.48% of the assets were located in India

Commissioner of Income Tax vs. M/S Hls India Ltd

The appeals are dismissed

Bench: Coming To These Legal Issues It Would Be Pertinent, In The Light Of Facts & Circumstances Of These Cases, First Of All To Succinctly Narrate The Genesis Of Instant Prolonged Tax Dispute Between The Revenue & The Assessee.

furniture, being tangible assets; (ii) know-how, patents, copyrights, trademarks, licenses, franchises or any other business or commercial rights of similar nature, being intangible assets acquired on or after the 1st day of April, 1998, owned , wholly or partly, by the assessee and used for the purposes of the business