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M/s. Tech Pacific (India) Ltd. (Now known as Ingram Micro Idia Ltd.) Versus DCIT- (OSD-II) , Mumbai

2016 (7) TMI 700 - ITAT MUMBAI

Penalty proceedings u/s. 271(1)(c) - disallowance made by the AO with regard to depreciation on goodwill, was deleted by the ITAT while deciding the quantum appeal - Held that:- Penalty order would not survive, once the addition made by the assessee has been deleted in the quantum appeal. Effective Ground of appeal, filed by the assessee, stands decided in its favour. - ITA/2337, 2338 & 2339/Mum/2013 - Dated:- 14-7-2016 - Shri Rajendra, Accountant Member And C. N. Prasad, Judicial Member For the .....

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AY 2002-03: 2. An action u/s. 132/133A was carried out on 6. 9. 2007 in the business premises of the assessee-group. During the search and survey proceedings certain documents were impounded/seized. A notce u/s. 153A was issued to the assessee on 23. 8. 2008. In response to the notice a return of income was filed on 24. 8. 2008, declaring total income of ₹ 35. 23 crores. The Assessing Officer(AO)completed the assessment , u/s. 153A r. w. s 143(3) of the Act, on 31. 12. 2009, determining th .....

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consideration in terms of the business transfer agreement dt. 2. 5. 2000 from Tech Pacific Technology India Ltd. However, the AO did not accept the contention of the assessee and disallowed the claim. In the meanwhile the assessee challenged the additions made by the AO before the First Appellate Auhtority (FAA). Upholding the order of the AO, he held that there was no provision in the Act for allowing depreciation on goodwill. The AO also initiated the penalty proceedings. Vide his notice, dt. .....

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ho confirmed the order of the AO. 4. During the course of hearing before us, the Authorised Representative(AR)stated that quantum additions made/upheld by the AO/FAA were challenged by the assessee before the Tribunal, that the ITAT had allowed the appeal of the assessee and that had reversed the order of the FAA. (ITA2383-2385/ Mum/ 2011-AY2002-03 to 2004-05, dt. 16. 7. 15). The Departmental Representative(DR)left the issue to the discretion of the Bench. We find that the disallowance made by t .....

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completed by making disallowances on similar heads though with different quantum and the same is done in A. Y. 2004-05. 5. Aggrieved by the assessments, the assessee carried the matter before the Ld. CIT(A) but without any success. 6. Before us, the Ld. Counsel for the assessee stated that the additions/disallowances which was not made in the normal/regular assessment and in respect whereof no incriminating material was found during the search cannot now be made for the first time in the assess .....

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