M/S T vs. MOTOR COMPANY LIMITED,CHENNAIVS.ACIT CORPORATE CIRCLE 3 (1), CHENNAI

In the result, the appeal of the Revenue and the assessee are\ndecided as under:-\n\n| ITA Nos\n| Assessment\nYear\nResult\n| IT(TP)A No

depreciation.\n\n21.0 Per contra, the Ld.DR relied upon the order of lower authorities.\n\n22.0 We have heard the rival submissions in the light of material\navailable on records. We have noted that the Ld.AO has denied the\nclaim by placing reliance upon the decision of Hon'ble Apex Court in the\ncase of Goetz India. As regards assessee

THE RAMCO CEMENTS LIMITED,RAJAPALAYAM vs. ACIT,CORPORATE CIRCLE, MADURAI

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

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.349/Chny/2022 िनधा"रण वष"/Assessment Year: 2011-12 M/S. The Ramco Cements Limited, Vs. The Assistant Commissioner Of Ramamandiram, Income Tax, Rajapalayam 626 117, Corporate Circle 2, Tamil Nadu. Madurai. [Pan: Aabcm8375L] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri S. Muralidhar, F.C.A. ""थ" की ओर से/Respondent By : Shri M. Rajan, Cit सुनवाई की तारीख/ Date Of Hearing : 23.02.2023 घोषणा की तारीख /Date Of Pronouncement : 12.04.2023 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Principal Commissioner Of Income Tax, Madurai-1, Madurai, Dated 30.03.2022 Relevant To The Assessment Year 2011-12. 2. Brief Facts Of The Case Are That The Assessee Filed The Return Of Income For The Assessment Year 2011-12 On 27.09.2011 Admitting Total Income Of ₹. 211,89,91,960/-. Subsequently, The Case Was Selected For Scrutiny & Assessment Was Completed Under Section 143(3) Of The 2

section 143(3) r.w.s. 254 of the Act on the issue of fly ash collection system and directed the Assessing Officer to redo the assessment. 4. On being aggrieved, the assessee is in appeal before the Tribunal. By reiterating the submissions as made before the ld. PCIT, the ld. Counsel for the assessee has submitted that the issue of expenditure

M/S. V.V.VANNIAPERUMAL & SONS,VIRUDHUNAGAR vs. PCIT-2, CHENNAI, CHENNAI

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

Bench: Shri Mahavir Singhand Shri G. Manjunatha

section 43(1), 43(6) and 47(iii) of the Act, finally held as under:- 23. Proceeding to the question of actual cost of goodwill or trade name, it is well established that goodwill is an important asset of business which is acquired over a period of time. There are well-recognized methods of computing value of goodwill/trade name

M/S. V.V.V. & SONS EDIBLE OILS LTD.,,VIRUDHUNAGAR vs. DCIT, CENTRAL-1,, MADURAI

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

Bench: Shri Mahavir Singhand Shri G. Manjunatha

section 43(1), 43(6) and 47(iii) of the Act, finally held as under:- 23. Proceeding to the question of actual cost of goodwill or trade name, it is well established that goodwill is an important asset of business which is acquired over a period of time. There are well-recognized methods of computing value of goodwill/trade name

M/S. V.V.V. & SONS EDIBLE OILS LTD.,,VIRUDHUNAGAR vs. DCIT, CENTRAL-1,, MADURAI

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

Bench: Shri Mahavir Singhand Shri G. Manjunatha

section 43(1), 43(6) and 47(iii) of the Act, finally held as under:- 23. Proceeding to the question of actual cost of goodwill or trade name, it is well established that goodwill is an important asset of business which is acquired over a period of time. There are well-recognized methods of computing value of goodwill/trade name

M/S. V.V.V. & SONS EDIBLE OILS LTD.,,VIRUDHUNAGAR vs. DCIT, CENTRAL-1,, MADURAI

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

Bench: Shri Mahavir Singhand Shri G. Manjunatha

section 43(1), 43(6) and 47(iii) of the Act, finally held as under:- 23. Proceeding to the question of actual cost of goodwill or trade name, it is well established that goodwill is an important asset of business which is acquired over a period of time. There are well-recognized methods of computing value of goodwill/trade name

M/S. V.V.V. & SONS EDIBLE OILS LTD.,,VIRUDHUNAGAR vs. DCIT, CENTRAL-1,, MADURAI

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

Bench: Shri Mahavir Singhand Shri G. Manjunatha

section 43(1), 43(6) and 47(iii) of the Act, finally held as under:- 23. Proceeding to the question of actual cost of goodwill or trade name, it is well established that goodwill is an important asset of business which is acquired over a period of time. There are well-recognized methods of computing value of goodwill/trade name

M/S. V.V.V. & SONS EDIBLE OILS LTD.,,VIRUDHUNAGAR vs. DCIT, CENTRAL-1,, MADURAI

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

Bench: Shri Mahavir Singhand Shri G. Manjunatha

section 43(1), 43(6) and 47(iii) of the Act, finally held as under:- 23. Proceeding to the question of actual cost of goodwill or trade name, it is well established that goodwill is an important asset of business which is acquired over a period of time. There are well-recognized methods of computing value of goodwill/trade name

M/S. V.V.V. & SONS EDIBLE OILS LTD.,,VIRUDHUNAGAR vs. DCIT, CENTRAL-1,, MADURAI

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

Bench: Shri Mahavir Singhand Shri G. Manjunatha

section 43(1), 43(6) and 47(iii) of the Act, finally held as under:- 23. Proceeding to the question of actual cost of goodwill or trade name, it is well established that goodwill is an important asset of business which is acquired over a period of time. There are well-recognized methods of computing value of goodwill/trade name

M/S. V.V.V. & SONS EDIBLE OILS LTD.,,VIRUDHUNAGAR vs. DCIT, CENTRAL-1,, MADURAI

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

Bench: Shri Mahavir Singhand Shri G. Manjunatha

section 43(1), 43(6) and 47(iii) of the Act, finally held as under:- 23. Proceeding to the question of actual cost of goodwill or trade name, it is well established that goodwill is an important asset of business which is acquired over a period of time. There are well-recognized methods of computing value of goodwill/trade name

M/S. TRIVITRON HEALTHCARE PVT. LTD.,CHENNAI vs. PCIT, , CHENNAI-3

In the result, the appeal filed by the assessee is partly\nallowed

254\nthe Act\n12 Details of Advertisement and Sales 257\nPromotion\n13 27.02.2021 3rd Reply to Notice under Section 142(1) of 299\nthe Act\n14 Details of Customs Duty 303\n15 25.02.2021 Notice under Section 142(1) of the Act 312\n16 27.02.2021 Reply to Notice under Section 142(1) of the 314\nAct\n17 02.03.2021 Notice under Section

ACIT (OSD) CORPORATE RANGE 1, CHENNAI vs. DORMA INDIA P. LTD., CHENNAI

In the result appeal filed by

Bench: Shri N.R.S. Ganesan & Shri Ramit Kochar

254 CTR 233 has held that non- compete fee will not qualify for depreciation u/s.32(1)(ii) of the 1961 Act. The AO also observed that decision of Hon’ble Madras High Court in the case of Pentasoft Technologies Ltd., v. DCIT reported in (2014) 41 taxmann.com 120(Mad.) had held that depreciation is to be allowed on payment

ACIT (OSD) CORPORATE RANGE 1, CHENNAI vs. DORMA INDIA P. LTD., CHENNAI

In the result appeal filed by

Bench: Shri N.R.S. Ganesan & Shri Ramit Kochar

254 CTR 233 has held that non- compete fee will not qualify for depreciation u/s.32(1)(ii) of the 1961 Act. The AO also observed that decision of Hon’ble Madras High Court in the case of Pentasoft Technologies Ltd., v. DCIT reported in (2014) 41 taxmann.com 120(Mad.) had held that depreciation is to be allowed on payment

ACIT (OSD) CORPORATE RANGE 1, CHENNAI vs. DORMA INDIA P. LTD., CHENNAI

In the result appeal filed by

Bench: Shri N.R.S. Ganesan & Shri Ramit Kochar

254 CTR 233 has held that non- compete fee will not qualify for depreciation u/s.32(1)(ii) of the 1961 Act. The AO also observed that decision of Hon’ble Madras High Court in the case of Pentasoft Technologies Ltd., v. DCIT reported in (2014) 41 taxmann.com 120(Mad.) had held that depreciation is to be allowed on payment

M/S. TAFE MOTORS AMD TRACTORS LTD.,CHENNAI vs. DCIT, CORPORATE CIRCLE-3(1), CHENNAI

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

Bench: Shri Manu Kumar Giri & Shri Amitabh Shuklaआयकर अपील सं./Ita Nos.1511, 1512 & 1513/Chny/2025 िनधा"रण वष"/Assessment Years: 2010-11, 2017-18 & 2018-19 V. M/S.Tafe Motors & Tractors Ltd., The Dcit, New No.77, Old No.35, Corporate Cirlce-3(1), Pottipati Plaza, Chennai. Nungambakkam High Road, Nungambakkam, Chennai-600 034. [Pan: Aacct 2459 B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

depreciation @25% on such amount. 5. The Ld. Counsel for the assessee has referred the reasons recorded for re-opening of the assessment for AY 2010-11, which reads as under: ITA Nos.1511, 1512 & 1513/Chny/2025 (AYs 2010-11, 2017-18 & 2018-19) M/s.TAFE Motors & Tractors Ltd. :: 4 :: The reasons for reopening the assessment for the Asst. Year

M/S. TAFE MOTORS AMD TRACTORS LTD.,,CHENNAI vs. DCIT, CORPORATE CIRCLE-3(1), CHENNAI

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

Bench: Shri Manu Kumar Giri & Shri Amitabh Shuklaआयकर अपील सं./Ita Nos.1511, 1512 & 1513/Chny/2025 िनधा"रण वष"/Assessment Years: 2010-11, 2017-18 & 2018-19 V. M/S.Tafe Motors & Tractors Ltd., The Dcit, New No.77, Old No.35, Corporate Cirlce-3(1), Pottipati Plaza, Chennai. Nungambakkam High Road, Nungambakkam, Chennai-600 034. [Pan: Aacct 2459 B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

depreciation @25% on such amount. 5. The Ld. Counsel for the assessee has referred the reasons recorded for re-opening of the assessment for AY 2010-11, which reads as under: ITA Nos.1511, 1512 & 1513/Chny/2025 (AYs 2010-11, 2017-18 & 2018-19) M/s.TAFE Motors & Tractors Ltd. :: 4 :: The reasons for reopening the assessment for the Asst. Year

M/S. TAFE MOTORS AMD TRACTORS LTD.,CHENNAI vs. DCIT, CORPORATE CIRCLE-3(1), CHENNAI

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

Bench: Shri Manu Kumar Giri & Shri Amitabh Shuklaआयकर अपील सं./Ita Nos.1511, 1512 & 1513/Chny/2025 िनधा"रण वष"/Assessment Years: 2010-11, 2017-18 & 2018-19 V. M/S.Tafe Motors & Tractors Ltd., The Dcit, New No.77, Old No.35, Corporate Cirlce-3(1), Pottipati Plaza, Chennai. Nungambakkam High Road, Nungambakkam, Chennai-600 034. [Pan: Aacct 2459 B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

depreciation @25% on such amount. 5. The Ld. Counsel for the assessee has referred the reasons recorded for re-opening of the assessment for AY 2010-11, which reads as under: ITA Nos.1511, 1512 & 1513/Chny/2025 (AYs 2010-11, 2017-18 & 2018-19) M/s.TAFE Motors & Tractors Ltd. :: 4 :: The reasons for reopening the assessment for the Asst. Year

PENTA MEDIA GRAPHICS LTD.,CHENNAI vs. DCIT, CHENNAI

In the result , appeal in ITA no

Bench: Shri Ramit Kochar & Shri Duvvuru R.L.Reddy

Section 254 of the 1961 Act held that the assessee is entitled for depreciation @ 25% on ‘Digital Content’ developed by it as the same