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TMI Blog2019 (9) TMI 1663X X X X Extracts X X X X X X X X Extracts X X X X ..... eciation on the brand value is intangible asset eligible for depreciation - HELD THAT:- From the perusal of the assessment order, it is clear that the AO had disallowed depreciation citing that no cost was incurred in acquisition of intangible asset namely brand value. It appears that the issue in the present appeal is covered against the assessee company by the decision of Co-ordinate Bench of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... countant Member And Shri Duvvuru Rl Reddy, Judicial Member For the Petitioner : Shri. G. Sekar, FCA. For the Respondent : Ms. R. Anitha, IRS, JCIT. ORDER PER INTURI RAMA RAO, ACCOUNTANT MEMBER These stay petitions are filed by assessee seeking stay of demand ₹20,07,572/- for assessment year 2010-11, A89,52,913/- for assessment year 2011-12, ₹4,73,74,620/- for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t no cost has been incurred to acquire brand value. It is further submitted that petitioner had got strong prime facie case in its favour since depreciation on the brand value is intangible asset eligible for depreciation. 5. On the other hand, the Ld. Sr. Departmental Representative vehemently opposed the stay petition. 6. We heard the rival submission and perused the material on record. Fr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of demand if the assessee fails to satisfy any of the factors enumerated above. Therefore, we are not inclined to grant stay of demand and accordingly, the stay petition filed by the assessee stands dismissed. S.P. Nos. 253, 254, 255, 256, 257 and 258/CHNY/2019 for assessment years 2011-12, 2012-13, 2013-14, 2014-15, 2015-16 and 2016-2017. 7. Since, the facts in the present stay petitio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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