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2023 (1) TMI 562 - AT - Income TaxTP Adjustment on account of technical know-how fees - DRP granted partial relief to the assessee by directing to exclude the service tax competent from the amount of TPO’s adjustment computed on this issue - HELD THAT:- Similar findings were also rendered by the coordinate bench of the Tribunal in assessee’s own case in Merck Specialties Private Ltd [2019 (11) TMI 705 - ITAT MUMBAI] and [2019 (12) TMI 1628 - ITAT MUMBAI] - DR could not show us any reason to deviate from the aforesaid orders and no change in facts and law was alleged in the relevant assessment year. The issue arising in the present appeal is recurring in nature and has been decided in favour of the assessee by the decision of the coordinate bench of the Tribunal for preceding assessment years. Thus, respectfully following the orders passed by the coordinate bench of the Tribunal in assessee’s own case cited supra, we uphold the plea of the assessee and direct the AO/TPO to delete the transfer pricing adjustment in respect of payment of technical consultancy fees. Ground in assessee’s appeal is allowed. Disallowance of depreciation on intangible assets - assessee is availing depreciation on intangibles at the rate of 25% on the various items appearing in the balance sheet in schedule of fixed assets of the assessee company - HELD THAT:- We find that the coordinate bench of the Tribunal in assessee’s own case [2019 (11) TMI 705 - ITAT MUMBAI] remand this issue to the file of AO for de novo adjudication on similar lines as was directed in earlier assessment years. Denial of depreciation on goodwill arising from scheme of amalgamation - HELD THAT:- In the present case, the AO as well as learned DRP did not entertain the claim of the assessee in view of decision of Goetze (India) Ltd.[2006 (3) TMI 75 - SUPREME COURT] however, it is now well settled that there is no bar on the appellate authority to entertain a fresh claim of the assessee, if the relevant fact for deciding such issue are available on record. Further, it is pertinent to note that on one hand in the remand proceedings, the AO for the first time raised doubts about the valuation report, however, on the other hand AO has allowed depreciation on intangible assets @ 25%, which were also acquired by the assessee and were also revalued in the books of the assessee upon amalgamation. We find merit in the claim of the assessee and accordingly we direct the AO to grant depreciation on goodwill arising on account of amalgamation of subsidiary company with the assessee. As a result, ground No. 4 raised in assessee’s appeal is allowed. Charging of interest u/s 234A - HELD THAT:- We deem it appropriate to remand this issue to the file of AO for de novo adjudication after necessary examination of the fact whether the return of income was filed by the assessee within the prescribed time under the Act. As a result, ground raised in assessee’s appeal is allowed for statistical purpose.
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