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2021 (10) TMI 64 - AT - Income TaxDepreciation on account intangible assets - CIT-A deleted the addition - HELD THAT:- As decided in own case [2019 (1) TMI 1399 - ITAT DELHI] when in the valuation report, which is given by PDIL, a Government of India Undertaking, intangibles assets and their benefits have been specifically valued and the assessee had paid a sum in a slump sale agreement for approvals, licences, permits, registration to run the business over and above the total price of fertilizer plant the same are intangibles and deprecation thereon is allowable u/s 32(l)(ii) of the Act apart from the depreciation claimed by the assessee on tangible assets. - Decided against revenue. Loss on sale of investment in the form of fertilizers bonds - CIT-A deleted the addition - HELD THAT:- We find that the Ld.CIT(A) has recorded a finding on fact that the amount of the fertilizers bonds (subsidy) has been declared as a revenue receipt in the respective assessment years. This finding on facts is not rebutted by Revenue by placing any contrary material. Therefore, we do not see any reason to interfere in the finding of Ld.CIT(A).
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