2018 (6) TMI 1723

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..... ected against the order of Commissioner of Income Tax (Appeals)-58, Mumbai, [in short CIT(A)] in appeal No. CIT(A)-58/348(TR)2-14-15 dated 21.10.2016. The Assessment was framed by the Asst. Commissioner of Income Tax, 1(3)(1), Mumbai (in short ACIT) for the assessment year 2010-11 vide order dated 16.4.2014 under section 143(3) read with section. 144C(3) of the Income Tax Act, 1961(hereinafter 'th .....

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..... ent year 2009-10 dated 15.3.2017. 3. The Ld. D.R. for the revenue after going through the grounds of appeal a copy of the orders furnished by Ld. A.R. of the assessee, fairly considered that the grounds of appeal raised by revenue are really covered in favour of the assessee. 4. We have considered the contentions of both the parties and perused the orders of authorities below. Ground No.1 relate .....

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..... been held "... this being so, ... this amount would form part of the cost of the assessment for the purpose of depreciation... " 32. In such a case, the additional depreciation, claimed by the assessee on Bilag machinery is to be allowed. We also accept that the action of the assessee did not suffer from any infirmity. 33. We, therefore, set aside the order of the CIT(A) and direct the AO to a .....

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..... 2007-08 to 2009-10, we do not find any merit in the ground of appeal raised by revenue, therefore, the same is dismissed. 7. Ground Nos.2 & 3 relates to allowing the depreciation on goodwill. We have noted that similar ground of appeal was raised by assessee in appeal for assessment year 2006-07 in ITA No.3078 and the Tribunal passed the following order: "45. We have gone through the submissio .....

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..... 2009-10. Considering the decision of Tribunal in assessment year in 2006-07 in ITA No.3078/M/2012 dated 28.3.2014, which was subsequently followed in the assessment years 2007-08 to 2009-10, we do not find any merit in the ground raised by the revenue. 9. In the result, the appeal filed by the revenue is dismissed. Order pronounced in the open court on 25-06-2018.
Case laws, Decisions, Judg .....

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