Depreciation is to be allowed to the assessee on the `brand’ received by it under the scheme of amalgamation

ORDER

Per J. Sudhakar Reddy, A.M.

These are cross appeals and are directed against the order of the CIT (Appeals)-VIII, Mumbai dated 05-06-2009 for the assessment year 2006- 07.

2. The sole issue that arises in the assessee’s appeal, is the allow ability of depreciation on `Brand’ received by the assessee under the Scheme of Arrangement u/s 391 to 394 of the Companies Act, 1956. In the Revenue appeal, the first ground relates to depreciation allowed by the CIT(Appeals) on certain assets and second ground is on the issue of deletion of addition made under the proviso of section 40(a) and section 43B, by the CIT (Appeals).

3. Facts in brief:

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