2018 (6) TMI 1723

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...., JM: This appeal by the revenue is directed against the order of Commissioner of Income Tax (Appeals)-58, Mumbai, [in short CIT(A)] in appeal No. CIT(A)-58/348(TR)2-14-15 dated 21.10.2016. The Assessment was framed by the Asst. Commissioner of Income Tax, 1(3)(1), Mumbai (in short ACIT) for the assessment year 2010-11 vide order dated 16.4.2014 under section 143(3) read with section. 144C(3) o....

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....2018 and in ITA No.3915/Mum/2015 for assessment year 2009-10 dated 15.3.2017. 3. The Ld. D.R. for the revenue after going through the grounds of appeal a copy of the orders furnished by Ld. A.R. of the assessee, fairly considered that the grounds of appeal raised by revenue are really covered in favour of the assessee. 4. We have considered the contentions of both the parties and perused the....

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....s CIT, reported in 70 Taxman 505 (Bom), wherein it has been held "... this being so, ... this amount would form part of the cost of the assessment for the purpose of depreciation... " 32. In such a case, the additional depreciation, claimed by the assessee on Bilag machinery is to be allowed. We also accept that the action of the assessee did not suffer from any infirmity. 33. We....

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....istently followed by coordinate bench in subsequent assessment years i.e. 2007-08 to 2009-10, we do not find any merit in the ground of appeal raised by revenue, therefore, the same is dismissed. 7. Ground Nos.2 & 3 relates to allowing the depreciation on goodwill. We have noted that similar ground of appeal was raised by assessee in appeal for assessment year 2006-07 in ITA No.3078 and the Tri....