https://www.taxtmi.com/caselaws?id=359786 The Tribunal upheld the CIT(A)'s decision, dismissing the assessee's appeal on two issues. Firstly, the claim for depreciation on intangible assets (goodwill and commercial rights) was rejected as the assets were deemed artificially created post-succession without actual economic basis. Secondly, the claim for exempt profit from an AOP (SNB-RCC JV) was disallowed due to insufficient evidence establishing the assessee's membership in the AOP. The Tribunal found that the provided documents did not support the assessee's contentions, leading to the dismissal of both claims. en-us Wed, 02 May 2018 00:00:00 +0530 Fri, 04 May 2018 08:51:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359786 The Tribunal upheld the CIT(A)'s decision, dismissing the assessee's appeal on two issues. Firstly, the claim for depreciation on intangible assets (goodwill and commercial rights) was rejected as the assets were deemed artificially created post-succession without actual economic basis. Secondly, the claim for exempt profit from an AOP (SNB-RCC JV) was disallowed due to insufficient evidence establishing the assessee's membership in the AOP. The Tribunal found that the provided documents did not support the assessee's contentions, leading to the dismissal of both claims. Case-Laws Income Tax Wed, 02 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359786