TMI Blog2015 (8) TMI 1567X X X X Extracts X X X X X X X X Extracts X X X X ..... e, what is the amount, why assessee has not claimed depreciation and other issues require examination in AY. 2007-08 . The claim of depreciation has to be examined in the year in which such asset becomes part of Block of assets. Then in later years only consequential depreciation on WDV has to be allowed. Admittedly the Goodwill came into assessee books in AY 2007-08. Since, we were adjudicating the issues in AY. 2009-10, Bench also gave a clear finding that consequential depreciation can be allowed in AY. 2009-10. Assessee also admits that issue and the claim for AY. 2007-08 is still pending before the CIT(A). In these circumstances, we are of the opinion that there is no mistake apparent from record and accordingly, the contentions rai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at Ground No. 17, the petitioner contends that the facts relating to depreciation on goodwill, even though was on record and placed on record in the course of hearing, the said facts were not considered. It was contended that: 3. During the course of the proceedings, when the Hon ble Tribunal wanted to know whether the facts related to the depreciation on goodwill was on record, the annual accounts, copy of scheme of amalgamation, computation of goodwill in the Books of accounts was shown to the Hon ble Members. With the permission of the Bench, the copies of the same were submitted on the same day, vide submission dated February 9, 2015. 4. However, it appears that these details, which would evidence to the fact that the details r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... laimed depreciation and other issues require examination in AY.2007-08. In AY.2009-10, if a depreciation was allowed on an asset which is in the block of assets in earlier year, only consequential depreciation can be allowed. Since assessee is claiming fresh depreciation on the goodwill, which arose in AY.2007-08, we cannot allow the ground in this assessment year. As rightly held by the Hon ble Supreme Court in the case of S.A. Builders Ltd., [289 ITR 26 (SC)], additional ground cannot be considered, in the absence of any facts on record. 15.3 In view of this, since the issue did not arise in the year under consideration and the facts pertaining to the quantification of the claim are not on record, we cannot entertain the additional ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ference to levy of interest U/s. 234C. It was contended that interest can be levied only on the returned income and not on the assessed income as was done by the AO. Even though Ground No. 16 with reference to levy of interest U/s. 234C were listed in para 3 of the order in page 3, adjudication on the issue was not made subsequently. Therefore, this contention of assessee is correct. With reference to the interest U/s. 234C, AO can examine levy as per provisions of Act in the consequential order as many issues were restored to AO in the order. Assessee should be given due opportunity and the calculation of interest should also be incorporated so as to examine the correctness of the calculations. 6. In the result, Miscellaneous Applicatio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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