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2014 (7) TMI 413 - AT - Income TaxRectification of order Mistake apparent from record Valuation and depreciation on goodwill Held that:- The valuation of goodwill has not been decided by the Tribunal - it amounts to mistake apparent from the record thus, the matter is remitted back to the Tribunal for fresh adjudication the claim of depreciation on goodwill has been dismissed by Tribunal Relying upon Commissioner of Income Tax, Kolkata Versus Smifs Securities Ltd. [2012 (8) TMI 713 - SUPREME COURT] - goodwill is an intangible asset within the meaning of Section 32 of the Act and eligible for depreciation thus, the order is recalled as the contrary decision taken by the Tribunal amounts to mistake apparent from record matter recalled for fresh decision.
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