DY.CIT, CIRCLE-1(1), CHANDIGARH vs. M/S GLAXOSMITHKLINE CONSUMER PVT. LTD., NABHA
In the result, Revenue’s appeal is dismissed
ITA 121/CHANDI/2023[2016-17]Status: DisposedITAT Chandigarh16 Oct 2025AY 2016-17
Bench: Shri Rajpal Yadav & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 121/Chd/2023 "नधा"रण वष" / Assessment Year : 2016-17 Dcit, M/S Glaxosmithkline Circle 1(1), बनाम Consumer Pvt. Ltd., Chandigarh Patiala Road, Vs. Nabha. Punjab "थायी लेखा सं./Pan No. Aafcg8415R अपीलाथ"/Appellant ""यथ"/Respondent ( Hybrid Mode ) "नधा"रती क" ओर से/Assessee By : Sh. Ajay Vohra, Sr. Advocate With Sh. Neeraj Jain, Advocate & Ms. Somya Jain, Ca (Virtual) राज"व क" ओर से/ Revenue By : Shri Manav Bansal, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 06.08.2025 उदघोषणा क" तार"ख/Date Of Pronouncement : 16.10.2025 आदेश/Order Per Krinwant Sahay, Am:
For Appellant: Sh. Ajay Vohra, Sr. Advocate with Sh. Neeraj Jain, Advocate and Ms. Somya Jain, For Respondent: Shri Manav Bansal, CIT DR
Section 32(1)
274
(Bang Trib.)
18. In view of the aforesaid, since the predecessor, viz. Novartis in the present case, has not claimed depreciation on both tangible and intangible assets forming part of the OTC business transferred to the assessee by way of slump sale, the provisions of sixth proviso to section 32(1) of the Act are not attracted