TMI Blog2017 (11) TMI 1835X X X X Extracts X X X X X X X X Extracts X X X X ..... deduction is allowable as per the provisions of S.32(1) . We, therefore, do not see any valid ground to interfere with the findings given by the Ld.CIT(Appeals). Hence, the departmental appeal is dismissed. - ITA No. 3887/Del/2016 A.Y. 2010-11 - - - Dated:- 9-11-2017 - Shri NK Saini And Shri Joginder Singh, JJ. Appellant by: Shri Kaushlendra Tiwari, Sr.D.R. Responden ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... processed u/s 143(1) of the Income Tax Act, 1961 (hereinafter referred to as the Act). Later on the case was selected for scrutiny. The Assessing Officer (A.O.) during the course of assessment proceedings noticed that the assessee had claimed depreciation on good will of ₹ 10,29,60,726/- but the same had not been claimed in the return of income. He did not allow the claim of the assessee. Be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is in appeal. The Ld.Sr.D.R. strongly supported the order of the A.O. and the Ld.Counsel for the assessee strongly supported the impugned order passed by the Ld.CIT(Appeals). 4. We have considered the submissions of both the parties and perused material available on record. In the present case it is noticed that the Ld. CIT(A) allowed the claim of the assessee by keeping in view the prov ..... X X X X Extracts X X X X X X X X Extracts X X X X
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