https://www.taxtmi.com/caselaws?id=290288 The Revenue's appeal was dismissed, and the assessee's appeal was partly allowed. The Tribunal upheld the CIT(A)'s decision on issues such as depreciation on Lucknow property, non-compete fee, and addition to General Reserve. However, the Tribunal directed re-adjudication on the disallowance of contributions to Employee Welfare Funds and granted depreciation on goodwill. The Tribunal also allowed the deduction for Excise duty paid on Closing Stock but dismissed the grounds related to provisions transferred to Buyer Company and excess consideration received on the transfer of business. The additional grounds for additional depreciation on plant & machinery were not admitted. en-us Mon, 27 Nov 2017 00:00:00 +0530 Fri, 18 Sep 2020 10:54:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290288 The Revenue's appeal was dismissed, and the assessee's appeal was partly allowed. The Tribunal upheld the CIT(A)'s decision on issues such as depreciation on Lucknow property, non-compete fee, and addition to General Reserve. However, the Tribunal directed re-adjudication on the disallowance of contributions to Employee Welfare Funds and granted depreciation on goodwill. The Tribunal also allowed the deduction for Excise duty paid on Closing Stock but dismissed the grounds related to provisions transferred to Buyer Company and excess consideration received on the transfer of business. The additional grounds for additional depreciation on plant & machinery were not admitted. Case-Laws Income Tax Mon, 27 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290288