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2016 (2) TMI 922 - ITAT MUMBAI

2016 (2) TMI 922 - ITAT MUMBAI - TMI - Rectification of apparent mistake in the order of Tribunal - claim of depreciation on management rights denied - Held that:- We have considered rival contentions and gone through the order of the Tribunal wherein the Tribunal has restored assessee’s ground for claim of depreciation on management rights for deciding as per the order of the Tribunal in assessee’s own case in the preceding year. However, there is no order of the Tribunal in assessee’s own case .....

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on that recently the Hon’ble Supreme Court in the case of Smifs Securities Ltd.[2012 (8) TMI 713 - SUPREME COURT ] held that intangible assets in the form of goodwill is eligible for claim of depreciation. - Decided in favour of assessee. - Miscellaneous Application Nos.207 to 209/Mum/2015 (Arising out of ITA Nos.2376 to 2378/Mum/2011) - Dated:- 4-2-2016 - SHRI R.C.SHARMA, AM & SHRI SANJAY GARG, JM Assessee by : Shri Dinesh Bafna & Arpit Agarwal Revenue by : Shri Vacharpati Tripathi O R .....

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im of depreciation on management rights and there is no order of Tribunal in assessee s own case, therefore, there is an apparent mistake in the observation made by the Tribunal in para 10 of its order. 3. On the other hand, ld. DR contended that there is no mistake in the order of the Tribunal. 4. We have considered rival contentions and gone through the order of the Tribunal dated 10-7-2015, wherein at para 10, the Tribunal has restored assessee s ground for claim of depreciation on management .....

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