Case Law Details
DCIT Vs DHL Logistics Pvt. Ltd. (ITAT Mumbai)
The issue under consideration is whether assessee is eligible for Depreciation on Goodwill resulting from acquisition of business unit?
ITAT states that the issue as regards the entitlement of the assesses towards claim of depreciation on intangible (i.e goodwill) is squarely covered by the orders of the coordinate benches of the Tribunal in the assesses own case for A.Y. 2008-09, A.Y. 2009-10 and A.Y 2012-13. Accordingly, finding no reason to take a different view, ITAT respectfully follow the view taken by the Tribunal as regards the entitlement of the assessee towards claim for depreciation on intangibles (i.e goodwill) during the year under consideration i.e A.Y. 2010-11. On the basis of our aforesaid observations, the disallowance of depreciation on intangibles (i.e goodwill) made by the A.O/DRP is deleted. Accordingly appeal is allowed.
FULL TEXT OF THE ITAT JUDGEMENT
1. These two cross appeal and cross objections by assessee in revenue’s appeal are directed against the assessment order dated 27.01.2013 under section 143(3) read with section 144C(13), passed in pursuance of the directions of Dispute Resolution Panel-1, Mumbai [the DRP] dated 28.12.2015. The revenue in its appeal has raised the following grounds of appeal:
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