2018 (10) TMI 2027

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..... counted as a balancing factor in the hands of the assessee without acquisition of an intangible asset as contemplated under Section 32 of the Act - as decided by HC [ 2017 (10) TMI 373 - GUJARAT HIGH COURT] with respect to the claim of depreciation, the decision of Supreme Court in case of Smifs Securities Ltd. [ 2012 (8) TMI 713 - SUPREME COURT] would squarely apply. There is no material referred .....

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