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2020 (9) TMI 429 - AT - Income TaxDepreciation on good will value - HELD THAT:- Issue settled in favour of the assessee and against the revenue by the Tribunal in assessee’s own case [2020 (8) TMI 50 - ITAT DELHI] - Claim can be considered in the hands of the assessee subject to verification of the factual aspects in the hands of the assessee. AO was of the view that the claim was not allowable because of the decision of Goetz India Ltd. [2006 (3) TMI 75 - SUPREME COURT] though he has made some reference to the factual aspects of the case. DRP has not adjudicated this issue; though the CIT(A) has allowed the claim of the assessee in Assessment Year 2011-12. The present Assessment Year being the year in which agreement was entered into i.e. dated 20.06.2008, it is considered fit to remit this issue of determining resultant amount of goodwill on which depreciation is allowable in the hands of the assessee. Disallowance of marked to market foreign exchange loss - HELD THAT:- As decided in own case [2020 (8) TMI 50 - ITAT DELHI] reverse the orders of Assessing Officer in this regard and direct the Assessing Officer to delete the disallowance made on account of mark to market foreign exchange loss.
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