IN THE INCOME TAX APPELLATE TRIBUNAL
BENCH ‘H’ (SPECIAL BENCH) NEW DELHI
Before Shri. Vimal Gandhi, President, R P Tolani, Judicial Member and Deepak R Shah,
Accountant Member
ITA No. 1976/Del/2006
(Assessment year: 2001- 02)
M/s CLC & Sons Pvt. Ltd.
Vs. Asst. Commissioner of Income Tax
Dated: 19th March 2010
ORDER
The learned Senior Advocate Shri C.S. Aggarwal appeared for the appellant and raised following preliminary objections to hearing of this appeal by the Special Bench:-
1. The question as framed does not raise the actual controversy in appeal, therefore, requires modification.
2. In subsequent year i.e. A.Y. 2003- 04 similar issue i.e. allow ability of depreciation-on goodwill came up for consideration of ITAT in the case of associated concern namely, CLC Global Pvt. Ltd., at the instance of the revenue. ITAT has taken a view in favor of the assessee and revenue has filed an appeal before the Hon’ble Delhi High Court, the same is fixed for admission on 15th July, 2010. A prayer is made by ld. Counsel that the present hearing may be kept in abeyance, as the findings which may be given by Special Bench may impinge upon the facts of findings given by ITAT in the sister concern’s case which is pending before Hon’ble High Court and may prejudice the interest of either party.
3. Hon’ble Judicial Member on this Special Bench has already taken a view about allowability of depreciation on goodwill in the case of Bharat Bhai J Vyas, 97 ITD 248 (Ahd.) In this eventuality the judicial discipline requires that this Special Bench should consist of persons who have not already taken a view.
The learned DR in reply contends as under:-
