TaxTMI 
TaxTMI 
2018 (1) TMI 448
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....ER PRASHANT MAHARISHI, A. M. 1. This is an appeal filed by the Revenue against the order of the ld CIT(A), XIII, New Delhi dated 01.02.2011 for the Assessment Year.. 2006-07. 2. The revenue has raised the following grounds of appeal:- "1. On the facts and circumstances of the case and in law, the CIT(A) has erred in deleting the addition of Rs. 4478750/- on account of disallowance of deprecia....
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....rs who can enter into its business because of its complexity. Consequently, depreciation was disallowed to the extent of Rs. 4478750/-. The Assessment order was passed on 18.12.2008 determining total loss of the assessee at Rs. 4767780/-. The assessee preferred appeal before the ld CIT(A), who allowed the claim of the assessee and therefore, revenue is in appeal before us. 4. The ld Departmental ....
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....lhi High Court referred to by the ld Departmental Representative of Sharp Business Systems, he submitted the decision Hon'ble Karnataka High Court in case of CIT Vs. Ingersoll Rand International Ind. Ltd. ITA No. 452/2013 dated 30.06.2014, where above decision was considered. 6. We have carefully considered the rival contentions and also perused the orders of the lower authorities. Assessee is wh....
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.... adverting ground No. 4 has held that by the amendment to the income tax act by the Finance Act 1998 w.e.f. AY 1999-2000, the intangible asset are eligible for depreciation. According to him, any right which is obtained for carrying on the business will fall in the definition of intangible asset. Hence, he deleted the addition. However, this issue squarely is covered against the assessee in view o....