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2015 (7) TMI 1249 - AT - Income TaxDepreciation on Goodwill - Held that:- Following the above decision of the co-ordinate bench of this Tribunal in the assessee's own case for Assessment Year 2007-08 the issue should be remanded to the AO for consideration. We do so keeping in mind the objection raised by the DR regarding valuation of the goodwill, its use etc. The AO shall examined the question of allowing depreciation on goodwill in the light of the material already available on record and such other material that the AO may require and such other material as the Assessee may rely upon to substantiate its claim for depreciation on goodwill. The AO will afford opportunity of being heard to the Assessee. For statistical purpose, the additional ground is treated as allowed TPA - comparable selection - Held that:- Assessee is into software development service, thus companies functionally dissimilar with that of assessee need to be deselected from final list of comparable. Liability in respect of the interest as charged u/s 234B and 234C - Held that:- The charging of interest is consequential and mandatory and the Assessing Officer has no discretion in the matter. This proposition has been upheld by the Hon'ble Apex Court in the case of Anjum H Ghaswala [2001 (10) TMI 4 - SUPREME Court ]. In this view of the matter, we uphold the action of the Assessing Officer in charging the assessee the said interest.
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