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2016 (1) TMI 124 - ITAT CHENNAI

2016 (1) TMI 124 - ITAT CHENNAI - TMI - Expenditure incurred by the assessee with regard to payment of logo charges - assessee claimed the same as revenue expenditure but AO treated both the payments as capital in nature and allowed depreciation @ 25% - CIT(A) allowed the claim of the assessee by holding that the payments are in the revenue field - Held that:- We have carefully gone through the order of this Tribunal in assessee's own case for assessment years 2002-03 to 2007-08 wherein found th .....

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ue - ITA Nos. 1587 to 1589/Mds/2015 - Dated:- 13-11-2015 - N. R. S. Ganesan, JM And A. Mohan Alankamony, AM For the Appellant : Dr Milind Madhukar Bhusari, CIT For the Respondent : Shri Saroj Kumar Parida, Adv ORDER Per N R S Ganesan, Judicial Member These appeals of the Revenue are directed against separate orders of the Commissioner of Income-tax (Appeals)-11, Chennai, dated 13.3.2015, for assessment years 2001-02, 2008-09 and 2009- 10. Since common issues arise for consideration in all the ap .....

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ounsel for the assessee. The ld. Counsel has not raised any serious objection to condone the delay. Since the records were mixed up with other files and the appeals were filed within a reasonable time as soon as the records were traced out, this Tribunal is of the considered opinion that there was a reasonable cause on the part of the Revenue for not filing the appeals within the stipulated time. Accordingly, the delay of three days is condoned and the appeals are admitted. 3. The first issue ar .....

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e. According to the ld. DR, the payment made by the assessee towards logo charges is capital in nature, therefore, entitled for depreciation @ 25%. Hence, the Assessing Officer disallowed the claim of the assessee, however, allowed depreciation @ 25%. However, on appeal by the assessee, the CIT(A), by following the order of this Tribunal in assessee's own case for assessment years 2002-03 to 2007-08 found that the payment towards logo charges is exclusively for the purpose of business hence, .....

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the assessee has paid fee for technical know-how, however, claimed the same as royalty. The Assessing Officer found that the fee for technical know-how has to be capitalized and the assessee is entitled for depreciation. However, on appeal, the CIT(A) by following the order of this Tribunal for assessment years 2002-03 to 2007-08 in assessee's own case, deleted the addition on the ground that the payment of royalty is in the revenue field. The appeal of the Revenue against the order of this .....

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