Dy. Commissioner of Income Tax , Circle-16(2) , Hyderabad V. Mylan Laboratories limited (Being The Amalgamated Company Of the Astrix Laboratoried Ltd ), Hyderabad

ITA 1750/Hyd/2018

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 8338 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 1 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-10-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB-A
• Next Hearing Date: 26-09-2019
• Assessment Year: 2014-2015
• Appeal Filed On: 28-08-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: Y V S T SAI; AMISHA S GUPT
• Assessee Lawyers: K A SAI PRASAD
• Keywords: Depreciation
• Section: 143(3)

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A , HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ITA NO. 1750 /HYD/20 18 ASSESSMENT YEAR: 20 14 - 15 DCIT, CIRCLE - 16(2), AAYAKAR BHAVAN, HYDERABAD. VS. MYLAN LABORATORIES LIMITED, (BEING THE AMALGAMATE COMPANY OF ASTRIX LABORATORIES LTD), PLOT NO.564/A/22, ROAD NO.92, JUBILEE HILLS, HYDERABAD 500 033. PAN: AADCM 3491 M (APPELLANT) (RESPONDENT) ASSESSEE BY: SRI K.A. SAI PRASAD REVENUE BY: SMT. AMISHA S GUPT & SRI Y.V.S.T. SAI, CIT - DR DATE OF HEARING: 26/09/2019 DATE OF PRONOUNCEMENT: 04 /10/2019 ORDER PER A. MOHAN ALANKAMONY, AM.: THIS APPEAL IS FILED BY THE REVENUE AGGRIEVED BY THE ORDER OF THE LD. CIT (A) - 4, DATED 26/06/2018 IN APPEAL NO. 0174/DCIT, CIRCLE - 16(2)/17 - 18/CIT(A) - 4/HYD/18 - 19 PASSED U/S. 143(3) R.W.S 92CA AND U/S. 250(6) OF THE ACT FOR THE AY 2014 - 15. 2. THE REVENUE HA S RAISED THREE GROUNDS IN ITS APPEAL HOWEVER, THE CRUX OF THE ISSUE IS THAT THE LD. CIT (A) HAS ERRED IN DELETING THE 2 DISALLOWANCE OF DEPRECIATION TOWARDS TECHNICAL KNOW - HOW (INTANGIBLE ASSET) FOR RS. 3,07,54,012/ - . 3. AT THE OUTSET, THE LD. AR SUBMITTED BEFORE US THAT THE LD. CIT (A) HAD GRANTED RELIEF TO THE ASSESSEE BASED ON THE ORDER OF THE TRIBUNAL ON THE SAME ISSUE FOR THE AY 2009 - 10 VIDE ORDER DATED 25/3/2015. IT WAS FURTHER SUBMITTED THAT THE TRIBUNAL FOLLOWING ITS EARLIER ORDER HAD GRANTED RELIEF TO THE ASSESSEE FOR THE AY 2012 - 13 AND 2013 - 14 VIDE ORDER DATED 16/3/2018 IN ITA NO. 1666/HYD/2017 AND VIDE ORDER DATED 24/10/2018 IN ITA NO. 814/HYD/2018 RESPECTIVELY. IT WAS THEREFORE PLEADED THAT FOR THE RELEVANT ASSESSMENT YEAR ALSO THE SAME RATIO IS APPLICABLE AND HENCE THE APPEAL OF THE REVENUE MAY BE DISMISSED. THE LD DR COULD NOT CONFRONT TO THE SUBMISSION OF THE LD. AR. 4. WE HAVE HEARD THE RIVAL SUBMISSIONS AND CAREFULLY PERUSED THE MATER IALS ON RECORD AND WE FIND MERIT IN THE ARGUMENTS ADVANCED BY THE LD. AR. AS STATED BY THE LD. AR THE TRIBUNAL HAD CONSISTENTLY HELD THE ISSUE IN FAVOUR OF THE ASSESSEE WHICH THE LD. CIT (A) HAS FOLLOWED. THEREFORE, WE DO NOT FIND ANY INFIRMITY IN THE OR DER OF THE LD. CIT (A) AND ACCORDINGLY THE SAME IS UPHELD. 5. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. 3 PRONOUNCED IN THE OPEN COURT ON 04 TH OCTOBER, 2019. SD/ - SD/ - (P. MADHAVI DEVI) ( A. MOHAN ALANKAMONY ) JUDICIAL MEMBER ACCOUNTANT MEMBER HYDERABAD, DATED: 04 TH OCTOBER , 2019 OKK COPY TO: - 1) MYLAN LABORATORIES LIMITED, PLOT NO.564/A/22, ROAD NO.92, JUBILEE HILLS, HYDERABAD 034. 2) DCIT, CIRCLE - 16(2), IT TOWERS, HYDERABAD. 3) DISPUTE RESOLUTION PANEL , HYDERABAD 4) THE CIT - IV , HYDERABAD 5) THE DR, ITAT, HYDERABAD 6) GUARD FILE