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2010 (12) TMI 520 - AT - Income TaxReassessment - Depreciation - Business and commercial brand equity - The assessee is a company engaged in the business of retail assets financing, investment and trade finance - valuation report was only in respect of the intangibles and it does not refer to any tangible assets at all. In fact, the breakup of total consideration paid as disclosed in the audited accounts for the year ended March, 31 st, 2001, includes the tangible at book values and the intangibles having regard to the valuation report - Since the issue involved in these three appeals of the Revenue arising under identical facts and circumstances which prevailed in AY 04-05 and since the Tribunal has already held in AY 04-05 that the Assessee is entitled to depreciation on intangibles - Decided in favour of the assessee
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