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2015 (10) TMI 1430 - AT - Income TaxDisallowance of Depreciation on Goodwill - Held that:- In view of the decision of the Hon'ble Supreme Court in the case of SMIFS Securities Ltd. [2012 (8) TMI 713 - SUPREME COURT ] the AO is directed to allow the claim of depreciation on the said intangible asset as claimed by the Assessee. - Decided in favour of assessee. Disallowance of depreciation in respect of Tudou plant - Held that:- Admittedly, after the concept of block of assets for the purpose of depreciation, if any part of the plant and machinery falling within the block is put to use during the relevant assessment year, then, the depreciation becomes eligible for the said block of assets. Admittedly, the dry plant of Tudou division has been put to use during the relevant assessment year. It is only the wet process which had been temporarily shut down in view of the order of the Forest Department. The dry plant having been used during the relevant assessment year and as the plant and machinery falls within the block of assets, the Assessee would be entitled to depreciation in respect of the said block of assets. In these circumstances, the AO is directed to grant the Assessee depreciation in respect of the Tudou plant as claimed. - Decided in favour of assessee.
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