JX NIPPON TWO LUBRICANTS INDIA PVT. LTD,GURGAON vs. DCIT CIRCLE-2(1), GURGAON
In the result, the appeal of the assessee is allowed
ITA 4985/DEL/2019[2015-16]Status: DisposedITAT Delhi02 Mar 2021AY 2015-16
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
For Appellant: Sh. NageswarRao, AdvFor Respondent: Sh. VedPrakash Mishra, Sr.DR
Section 234ASection 271(1)(c)Section 32Section 32(1)(ii)
goodwill totaling to Rs.107,74,29,864/- out of which the assessee had claimed depreciation of Rs.13,46,78,733/- under section 32(1)(ii)(b) of the act. It is also being observed that the assessee had capitalized the goodwill on account of excess consideration paid
