INCOME TAX OFFICER , CHENNAI vs. SUNEDISON SOLAR POWER INDIA PRIVATE LIMITED, CHENNAI
In the result, the appeal filed by the Revenue is dismissed
ITA 1028/CHNY/2024[AY 2016-17]Status: DisposedITAT Chennai24 Jul 2024
Bench: Shri S.S. Viswanethra Ravi & Shri S.R. Raghunathaआयकर अपील सं./I.T.A. No.1028/Chny/2024 िनधा"रण वष"/Assessment Year: 2016-17 The Income Tax Officer, Vs. Sunedison Solar Power India Private Corporate Ward 6(1), Room No. 704, Limited, No. 6J, Century Plaza,560- Wanaparthy Block, Aayakar Bhawan, 565, Anna Salai, Chennai 600 040 Nungambakkam, Chennai 600 034. [Pan: Aascs6905K] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri Aroon Prasad, Addl. Cit ""थ" की ओर से/Respondent By : Shri S.K. Gupta, Advocate सुनवाई की तारीख/ Date Of Hearing : 22.07.2024 घोषणा की तारीख /Date Of Pronouncement : 24.07.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: This Appeal Filed By The Revenue Is Directed Against The Order Dated 09.02.2024 Passed By The Ld. Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre [Nfac], Delhi For The Assessment Year 2016-17. 2. We Find That This Appeal Is Filed With A Delay Of Four Days. The Revenue Filed A Petition For Condonation Of Delay Explaining Reasons For The Said Delay & Prayed For Condonation Of That Delay. On Perusal Of The Condonation Petition & Upon Hearing Both The Parties, We Find That The 2
For Appellant: Shri Aroon Prasad, Addl. CITFor Respondent: Shri S.K. Gupta, Advocate
Section 144BSection 147Section 260A
288 (Delhi) while deciding the issue regarding "Where assessee purchased business as going concern, consideration paid in excess of value of tangible assets was classifiable as goodwill eligible for depreciation and, therefore, further exercise to value goodwill was not warranted"
Concluded that "it is well established that 'goodwill' is an intangible asset, which is required to be accounted for when
