TMI Blog2013 (7) TMI 169X X X X Extracts X X X X X X X X Extracts X X X X ..... decision of CIT v. SMIFS Securities Ltd [2012 (8) TMI 713 - SUPREME COURT] - Decided in favour of Assessee. - IT Appeal No. 61 of 2007 - - - Dated:- 1-4-2013 - N. KUMAR AND B. Manohar, JJ. For the Appellant : K.V. Arvind. For the Respondent : S. Parthasarathi. JUDGMENT:- PER : N. Kumar The Revenue has preferred this appeal challenging the order of the Tribunal holding that bu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he sale agreement and ICDS Ltd., for purchase of distance learning division?" 3. The assessee has agreed in the sale agreement the price of Rs.51,63,00,000-00 as the value of the SMU agency rights. On the very next day, the assessee has chosen to revalue such rights to Rs.98,73,25,000-00 and claimed depreciation on the revalued rights. The assessing authority held that the excess consideration p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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