TaxTMI 
TaxTMI 
2024 (10) TMI 933
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....Tax Appellate Tribunal (hereafter the Tribunal) in ITA No. 3378/Del/2010, captioned DCIT, Circle-11(1), New Delhi v. eSys Information Technologies Ltd. in respect of assessment year (hereafter AY) 2004-05. It is relevant to note that the impugned order is a common order passed by the Tribunal in two appeals (ITA No. 3378/Del/2010 and ITA No. 3514/Del/2010) in respect of AYs 2004-05 and 2005-06. The present appeal relates to the Revenue's appeal in respect of AY 2004-05. 2. The controversy in the present appeal is twofold. The first relates to the disallowance of the amount of Rs. 34,63,450/- on account of goodwill that was written off by the assessee during the relevant previous year. And, the second is regarding the addition made on accou....
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....sed the same, it was rejected by the Transfer Pricing Officer and therefore, the addition made on account of the ALP adjustment was not on account of inclusion of the Foreign AE as a tested party. 5. Since, concededly, the Foreign AE was not included as one of the tested parties, the question projected by the Revenue does not arise. 6. The second question to be addressed is with regard to the disallowance of Rs. 34,63,450/-, which was written off by the assessee as goodwill. The undisputed facts are that the assessee had paid a sum of Rs. 47,00,000/- to M/s Nebula Technologies Pvt. Ltd. (hereafter Nebula) for purchasing certain assets, which were located in different places in India. The said assets were valued at Rs. 12,37,450/- and ther....