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“opening WDV”

DepreciationSection 43(6)Section 43(6)263 judgments

The decision most relied on for opening WDV is ACIT v. Progressive Constructions Ltd. (92 Taxmann.com 104), cited in 63 judgments on BharatTax.

Leading authorities on opening WDV

ACIT v. Progressive Constructions Ltd.
92 Taxmann.com 104 · 2018 · ITAT
63
citing judgments

Rights acquired under a concession agreement for highway construction, which generate revenue through toll collections, constitute an 'intangible asset' under section 32(1)(ii) of the Income-tax Act, 1961, eligible for depreciation, typically at 25%. This includes claiming depreciation on the opening Written Down Value (WDV) for such highway projects.

CIT v. Artex Manufacturing Co.
227 ITR 260 · 1997 · Supreme Court
36
citing judgments

In a slump sale, the slump purchase price cannot be apportioned among individual assets for claiming depreciation, as there is no indication of the price attributable to specific assets out of the total sale consideration.

DCIT v. Toyo Engineering India ltd.
33 Taxmann.com 560 · 2013 · Reported
22
citing judgments

Depreciation is not allowed on goodwill if it arises from book entries and has no identifiable cost of acquisition. This applies even when goodwill is acquired as part of a scheme of arrangement or amalgamation.

Bodal Chemicals Ltd. v. ACIT, Ahmedabad
112 Taxmann.com 217 · 2019 · ITAT
16
citing judgments

Once depreciation on an asset is allowed in the first year, the revenue is debarred from denying depreciation on the written-down value carried forward in subsequent years, absent a change in facts or law.

PCIT v. GVK Jaipur Expressway
100 Taxmann.com 96 · 2018 · Supreme Court
13
citing judgments

The Supreme Court has affirmed that developers of roadways, operating on a Build-Operate-Transfer (BOT) basis, are eligible to claim depreciation on the roads constructed. This decision supports the assessee's claim against the Revenue's challenge.

Judgments citing opening WDV

Ravindra Madanlal Khandelwal, Akola vs. DCIT/ACIT Circle, Akola

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

ITA 375/NAG/2024[2018-19]Status: DisposedITAT Nagpur18 Nov 2024AY 2018-19

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mahavir AtalFor Respondent: Shri Sandipkumar Salunke
Section 142(1)Section 143Section 144BSection 68

Unsecured Loans D 24746174.00 34275280.15 Current Liabilities & Provisions A Current Liabilities E 72065313.96 B Provisions F 61600.00 72126913.96 125808164.12 APPLICATION OF FUNDS:– Opening WDV & Fixed Assets G 6692145.65 Additions Less: Depreciation 237031.00 6455114.65 Investments H 151015.00 Current Assets, Loans & Advances A Inventories I 6061250.00 B Sundry Debtors

Prasidh Fincap Ltd., New Delhi vs. DCIT Circle-20(1), New Delhi

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

ITA 1534/DEL/2022[2014-15]Status: DisposedITAT Delhi22 Oct 2024AY 2014-15

Bench: Shri M. Balaganesh & Shri Vimal Kumarprasidh Fincap Ltd, Vs. Dcit, 2Nd Floor, Rsn Arcade, 6 Circle-20(1), Lsc, Near Peince New Delhi Apartment, Ip Extension, Parparganj, New Delhi (Appellant) (Respondent) Pan:Aaacp6704D

For Appellant: Shri I. P. Bansal, AdvFor Respondent: Shri Rajesh Dhanesta, Sr. DR
Section 143(3)Section 32

depreciation was ‘actually allowed’ to the assessee up to AY 2011-12. Hence, the assessee would be entitled to claim depreciation on the opening WDV as on 01.04.2011 as per the provisions of the Act. The issue in dispute is no longer res integra in view of the decision

Prasidh Fincap Ltd, New Delhi vs. ITO, Ward-20(1), New Delhi

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

ITA 7966/DEL/2018[2013-14]Status: DisposedITAT Delhi22 Oct 2024AY 2013-14

Bench: Shri M. Balaganesh & Shri Vimal Kumarprasidh Fincap Ltd, Vs. Dcit, 2Nd Floor, Rsn Arcade, 6 Circle-20(1), Lsc, Near Peince New Delhi Apartment, Ip Extension, Parparganj, New Delhi (Appellant) (Respondent) Pan:Aaacp6704D

For Appellant: Shri I. P. Bansal, AdvFor Respondent: Shri Rajesh Dhanesta, Sr. DR
Section 143(3)Section 32

depreciation was ‘actually allowed’ to the assessee up to AY 2011-12. Hence, the assessee would be entitled to claim depreciation on the opening WDV as on 01.04.2011 as per the provisions of the Act. The issue in dispute is no longer res integra in view of the decision

Prasidh Fincap Ltd, New Delhi vs. ITO, Ward-20(2), New Delhi

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

ITA 7965/DEL/2018[2012-13]Status: DisposedITAT Delhi22 Oct 2024AY 2012-13

Bench: Shri M. Balaganesh & Shri Vimal Kumarprasidh Fincap Ltd, Vs. Dcit, 2Nd Floor, Rsn Arcade, 6 Circle-20(1), Lsc, Near Peince New Delhi Apartment, Ip Extension, Parparganj, New Delhi (Appellant) (Respondent) Pan:Aaacp6704D

For Appellant: Shri I. P. Bansal, AdvFor Respondent: Shri Rajesh Dhanesta, Sr. DR
Section 143(3)Section 32

depreciation was ‘actually allowed’ to the assessee up to AY 2011-12. Hence, the assessee would be entitled to claim depreciation on the opening WDV as on 01.04.2011 as per the provisions of the Act. The issue in dispute is no longer res integra in view of the decision

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

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 WDV of an asset. 3. Both the lower authorities have passed the orders without properly appreciating the facts and they further erred in grossly ignoring ... opening written down value of goodwill of Rs.3,23,91,850. However, in the impugned draft order, The learned A.O has inadvertently mentioned the opening WDV of goodwill as Rs.4,31,89,135 while correctly taken the depreciation of goodwill as Rs.80,97,963.” 13. Therefore, the fact pointed

Bosch Rexroth (India) Pvt. Ltd., Ahmedabad vs. The Income Tax Officer, Ward-1(1)(3), Ahmedabad

In the result, the appeal filed by the assessee is allowed

ITA 448/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad14 Oct 2024AY 2011-12

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri S. N. Soparkar, Sr. Advocate & ShriFor Respondent: Shri Ankit Jain, Sr. D.R
Section 145ASection 40

assessee’s claim of depreciation on office equipments at the rate of 15% was on the block of assets of office equipments comprising of opening WDV of Rs.2,24,47,127/- and additions made during the year to the tune of Rs.12,10,443/-. What transpires from the fact therefore ... value of the block of asset coming over from past years, when these assets were acquired. It is an undisputed fact that all these opening WDV of office equipments value of Rs.2.24 crores, the assessee had consistently been claiming depreciation at the rate of 15% and has been allowed

Hagglunds Drives (India) Pvt. Ltd. ( Now Merged in Bosch Rexroth (India) Ltd.), Ahmedabad vs. The Dy.CIT, Circle-1(1)(2), Ahmedabad

In the result, the appeal filed by the assessee is allowed

ITA 931/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad14 Oct 2024AY 2010-11

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri S. N. Soparkar, Sr. Advocate & ShriFor Respondent: Shri Ankit Jain, Sr. D.R
Section 145ASection 40

assessee’s claim of depreciation on office equipments at the rate of 15% was on the block of assets of office equipments comprising of opening WDV of Rs.2,24,47,127/- and additions made during the year to the tune of Rs.12,10,443/-. What transpires from the fact therefore ... value of the block of asset coming over from past years, when these assets were acquired. It is an undisputed fact that all these opening WDV of office equipments value of Rs.2.24 crores, the assessee had consistently been claiming depreciation at the rate of 15% and has been allowed

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)

opening of each year. In the instant year also, assessee has claimed depreciation at the rate of 25% at ₹59,32,617/- on the opening WDV of goodwill on 1st April, 2015 at ₹2,37,30,469/-. Both the lower authorities though denied the claim of the assessee, we however

Deputy Commissioner of Income Tax, Chennai vs. Ashok Leyland Limited, Chennai

In the result, appeal filed by the assessee is partly allowed and

ITA 482/CHNY/2024[2010-11]Status: DisposedITAT Chennai25 Sept 2024AY 2010-11

Bench: Shri Aby T. Varkey & Shri S.R.Raghunathaआयकर अपील सं./Ita No.361/Chny/2024 िनधा"रण वष"/Assessment Year: 2010-11 V. M/S. Ashok Leyland Ltd., The Dcit, No.1, Sardar Patel Road, Non Corporate Circle-8(1), Guindy, Chennai-600 032. Ltu-Ii, Chennai. [Pan: Aaaca 4651 L] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr. Vikram VijayaraghavanFor Respondent: Mr. Nilay Baran Som, CIT
Section 32Section 35

Paper Book. It was pointed out by the Ld.AR that the cost of Aircraft in 2006 was allowed as part of the opening WDV as on 01.04.2009 and depreciation allowance on opening WDV therefore is automatically available. It was pointed out by the Ld.AR that in the assessee

Ashok Leyland Limited, Chennai vs. DCIT Non Corp Circle 8(1) - Ltu - II, Chennai

In the result, appeal filed by the assessee is partly allowed and

ITA 361/CHNY/2024[2010-11]Status: DisposedITAT Chennai25 Sept 2024AY 2010-11

Bench: Shri Aby T. Varkey & Shri S.R.Raghunathaआयकर अपील सं./Ita No.361/Chny/2024 िनधा"रण वष"/Assessment Year: 2010-11 V. M/S. Ashok Leyland Ltd., The Dcit, No.1, Sardar Patel Road, Non Corporate Circle-8(1), Guindy, Chennai-600 032. Ltu-Ii, Chennai. [Pan: Aaaca 4651 L] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr. Vikram VijayaraghavanFor Respondent: Mr. Nilay Baran Som, CIT
Section 32Section 35

Paper Book. It was pointed out by the Ld.AR that the cost of Aircraft in 2006 was allowed as part of the opening WDV as on 01.04.2009 and depreciation allowance on opening WDV therefore is automatically available. It was pointed out by the Ld.AR that in the assessee

M/S Cheema Boilers Ltd., Mohali vs. Pr. CIT-2, Mohali

In the result, the appeal is dismissed

ITA 748/CHANDI/2018[2013-14]Status: DisposedITAT Chandigarh24 Sept 2024AY 2013-14

Bench: Shri Krinwant Sahay & Shri Paresh M. Joshiआयकर अपील सं./ Ita No. 748/Chd/2018 "नधा"रण वष" / Assessment Year : 2013-14

For Appellant: Shri Yogesh Monga,CAFor Respondent: Shri Rohit Sharma, CIT DR
Section 143(3)Section 263Section 32Section 36Section 40

during the course of assessment proceedings before the assessing officer, the assessee company had submitted tax audit report which included depreciation chart with wrong opening WDV of fixed assets. But this mistake was 748-Chd-2018 – M/s Cheema Boilers Limited, Mohali 4 righty rectified by the assessee company

Tata Consumer Products Limited, Kolkata vs. DCIT, Cir.-4(1), Kolkata

In the result, the appeal for AY 2014-15 is partly allowed

ITA 373/KOL/2021[2015-16]Status: DisposedITAT Kolkata17 Sept 2024AY 2015-16

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

For Appellant: Sriram Sashdari, ARFor Respondent: Rakesh Kumar Das, CIT, DR
Section 250Section 43(6)Section 50CSection 50C(2)Section 928

IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH KOL- KATA BEFORE SHRI SONJOY SARMA, JUDICIAL MEMBER AND SHRI RAKESH MISHRA

Tata Consumer Products Limited, Kolkata vs. DCIT, Cir.-4(1), Kolkata

In the result, the appeal for AY 2014-15 is partly allowed

ITA 372/KOL/2021[2014-15]Status: DisposedITAT Kolkata17 Sept 2024AY 2014-15

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

For Appellant: Sriram Sashdari, ARFor Respondent: Rakesh Kumar Das, CIT, DR
Section 250Section 43(6)Section 50CSection 50C(2)Section 928

IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH KOL- KATA BEFORE SHRI SONJOY SARMA, JUDICIAL MEMBER AND SHRI RAKESH MISHRA

M/S. Sabarmati Gas Ltd., Gandhinagar vs. The Pr. CIT-3, Ahmedabad

In the result, appeal of the assessee is partly allowed

ITA 368/AHD/2023[2018-19]Status: DisposedITAT Ahmedabad04 Sept 2024AY 2018-19

Bench: Smt.Annapurna Gupta & Shri T.R. Senthil Kumarassessment Year : 2018-19 Sabarmati Gas Ltd. The Ld.Pr.Cit Plot No.907, Sector 21 Vs Ahmedabad-3. Gandhinagar 382 021 Pan : Aakcs 0110 N

For Respondent: Shri H. Phani Raju, CIT-DR
Section 143(3)Section 263Section 32Section 37(1)Section 40

dispute with respect to the interpretation of the provision of section 32 of the Act by the Ld.PCIT that depreciation is allowable on the opening WDV of the asset/block of asset , i.e as at the beginning of the year adjusted for any additions or deletions made thereto

DCIT, New Delhi vs. M/S. Sony India Pvt. Ltd., New Delhi

In the result, appeal filed by the assessee is partly allowed as indicated above and appeal filed by the revenue is dismissed

ITA 1166/DEL/2015[2010-11]Status: DisposedITAT Delhi30 Aug 2024AY 2010-11

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

For Appellant: Shri Nageshwar Rao, AdvocateFor Respondent: Shri Rajesh Kumar, CIT DR
Section 143Section 143(2)Section 143(3)Section 92C

money payable' for any asset, which is sold or discarded or disposed off during the year, is to be essentially reduced from the opening WDV of the block to which such asset belongs. The WDV of 'block of asset' is to be calculated as follows: Opening WDV of the block

Sony India Private Limited, New Delhi vs. Deputy Commissioner of Income-Tax, New Delhi

In the result, appeal filed by the assessee is partly allowed as indicated above and appeal filed by the revenue is dismissed

ITA 1026/DEL/2015[2010-11]Status: DisposedITAT Delhi30 Aug 2024AY 2010-11

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

For Appellant: Shri Nageshwar Rao, AdvocateFor Respondent: Shri Rajesh Kumar, CIT DR
Section 143Section 143(2)Section 143(3)Section 92C

money payable' for any asset, which is sold or discarded or disposed off during the year, is to be essentially reduced from the opening WDV of the block to which such asset belongs. The WDV of 'block of asset' is to be calculated as follows: Opening WDV of the block

Ananya Finance for Inclusive Growth Pvt. Ltd., Ahmedabad vs. The Asst.Commissioner of Income Tax Circle-1(1)(1), Ahmedabad

ITA 1744/AHD/2019[2016-17]Status: DisposedITAT Ahmedabad28 Aug 2024AY 2016-17

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

For Appellant: Shri Tushar Hemani, Sr. AdvocateFor Respondent: Shri H. Phani Raju, CIT-DR & Shri
Section 143(3)Section 14ASection 250

year. The CIT(A) concluded that the disallowance of depreciation on fixed assets for the current year was unwarranted. The disallowance related to the opening WDV, based on previous years, had already been deleted in the respective appeals, and the current year’s addition to fixed assets was well supported ... disallowance made by the AO in prior years had already been deleted in appeals for those years, and the same reasoning applies to the opening WDV carried forward to the current year. 32. Given that the CIT(A) has already conducted a detailed verification of the invoices and found them

Ananya Finance for Inclusive Growth Pvt.Ltd., Ahmedabad vs. Dy.Commissioner of Income Tax, Circle-1(1)(2), Ahmedabad

ITA 2276/AHD/2017[2014-15]Status: DisposedITAT Ahmedabad28 Aug 2024AY 2014-15

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

For Appellant: Shri Tushar Hemani, Sr. AdvocateFor Respondent: Shri H. Phani Raju, CIT-DR & Shri
Section 143(3)Section 14ASection 250

year. The CIT(A) concluded that the disallowance of depreciation on fixed assets for the current year was unwarranted. The disallowance related to the opening WDV, based on previous years, had already been deleted in the respective appeals, and the current year’s addition to fixed assets was well supported ... disallowance made by the AO in prior years had already been deleted in appeals for those years, and the same reasoning applies to the opening WDV carried forward to the current year. 32. Given that the CIT(A) has already conducted a detailed verification of the invoices and found them

Ananya Finance for Inclusive Growth Pvt.Ltd., Ahmedabad vs. Dy.Commissioner of Income Tax, Circle-1(1)(2), Ahmedabad

ITA 2275/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad28 Aug 2024AY 2013-14

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

For Appellant: Shri Tushar Hemani, Sr. AdvocateFor Respondent: Shri H. Phani Raju, CIT-DR & Shri
Section 143(3)Section 14ASection 250

year. The CIT(A) concluded that the disallowance of depreciation on fixed assets for the current year was unwarranted. The disallowance related to the opening WDV, based on previous years, had already been deleted in the respective appeals, and the current year’s addition to fixed assets was well supported ... disallowance made by the AO in prior years had already been deleted in appeals for those years, and the same reasoning applies to the opening WDV carried forward to the current year. 32. Given that the CIT(A) has already conducted a detailed verification of the invoices and found them

Ananya Finance for Inclusive Growth Pvt.Ltd., Ahmedabad vs. Dy.Commissioner of Income Tax, Circle-1(1)(2), Ahmedabad

ITA 960/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad28 Aug 2024AY 2012-13

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

For Appellant: Shri Tushar Hemani, Sr. AdvocateFor Respondent: Shri H. Phani Raju, CIT-DR & Shri
Section 143(3)Section 14ASection 250

year. The CIT(A) concluded that the disallowance of depreciation on fixed assets for the current year was unwarranted. The disallowance related to the opening WDV, based on previous years, had already been deleted in the respective appeals, and the current year’s addition to fixed assets was well supported ... disallowance made by the AO in prior years had already been deleted in appeals for those years, and the same reasoning applies to the opening WDV carried forward to the current year. 32. Given that the CIT(A) has already conducted a detailed verification of the invoices and found them