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2021 (9) TMI 361 - AT - Income TaxDisallowance of deprecation on Goodwill - assessee had entered into an Asset Purchase Agreement (“APA”) to acquire the Global Travel Service Centre (“GTSC”) as a going concern for lump sum consideration ( slump sale basis) - HELD THAT:- We find that the Co-ordinate Bench of Tribunal while deciding the issue in favour of the assessee on identical facts in A.Y. 2012-13 & 2013-14 & 2015-16 [2021 (3) TMI 472 - ITAT DELHI] Revenue has not pointed to any distinguishing feature in the facts of the case in the year under consideration and that of the earlier years. Revenue has also not placed any material on record to demonstrate that the ITAT orders in assessee’s own case for earlier years has been stayed/ set aside/ overruled by higher judicial forum. AO was not justified in disallowing the claim of depreciation. - Decided in favour of assessee. Disallowance u/s 14A - details furnished by the assessee noted that assessee had earned dividend income which was claimed as exempt income - HELD THAT:- We therefore, following the order of the Tribunal in assessee’s own case [2021 (3) TMI 472 - ITAT DELHI] for earlier years and for similar reasons hold that the AO was not justified in disallowing the expenses u/s 14A r.w.r 8D of the Act. We therefore direct the AO to delete the disallowance of expenses. Claim of deduction on account of payment of education cess - assessee in the return of income did not claim deduction for the education cess paid before the due date of filing return of income - HELD THAT:- We therefore, following the order of the Tribunal in assessee’s own case for earlier years [2021 (3) TMI 472 - ITAT DELHI] and for similar reasons direct the AO to allow the claim of deductibility of cess - Thus the ground of the assessee is allowed.
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