M/S. FREUDENBERG GALA HOUSEHOLD PRODUCTS PVT LTD, MUMBAI V. DEPUTY COMMISSIONER OF INCOME TAX-15(1)(1), MUMBAI

ITA 5272/MUM/2019

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 1309 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 3 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-11-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2015-2016
• Appeal Filed On: 09-08-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Depreciation
• Section: 32; 143(3); 234B

Judgement Text

ITA NO. 5272/MUM/2019 ASSESSMENT YEAR 2015 - 16 PAGE 1 OF 2 INCOME TAX APPELLATE TRIBUNAL MUMBAI SMC BENCH, MUMBAI [CORAM: PRAMOD KUMAR, VICE PRESIDENT, AND, MAHAVIR SINGH, VICE PRESIDENT] ITA NO.: 5272/MUM/2019 ASSESSMENT YEARS: 2015 - 16 M/S. FREUDENBERG GALA HOUSEHOLD PRODUCTS PVT. LTD. .. APPELLANT B - 902, 309, 904, 02 GALLERIA NO. 23, 24, MINERVA INDUSTRIAL ESTATE, NEAR ASHA NAGAR, OFF LBS MARG, MULUND (W) MUMBAI 400080 [PAN: AADCG434 5E] VS. DEPUTY COMMISSIONER OF INCOME TAX - 15(1)(1) .RESPONDENT MUMBAI 400020. APPEARANCES: NLESH DEDHIA FOR THE APPELLANT SUNIL DESHPANDE FOR THE RESPONDENT DATE OF CONCLUDING THE HEARING: : NOVEMBER 2 7 TH , 2020 DATE OF PRONOUNCEMENT : NOVEMBER 2 7 TH , 2020 O R D E R PER PRAMOD KUMAR, VP: 1. BY WAY OF THIS APPEAL, THE ASSESSEE APPELLANT HAS CALLED INTO QUESTION CORRECTNESS OF THE ORDER DATED 25 TH APRIL 2019 , PASSED BY THE LEARNED COMMISSIONER (APPEALS) IN THE MATTER OF ASSESSMENT UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961, FOR THE ASSESS MENT YEAR 2015 - 16. 2. GRIEVANCE OF THE ASSESSEE APPELLANT IS AS FOLLOWS: 1. THE HON'BLE CIT(A) HAS E RRED IN LA W AND ON FACTS IN DISALLOWING THE DEPRECIATION CLAIMED BY THE APPELLANT UNDER THE PROVISIONS O SECTION 32 OF THE ACT R.W. RULE 5 OF THE INCOME TAX RULES, 19 6 2 ON NON - COMPETE RIGHTS ACQUIRED FORM GALA BRUSH LIMITED WITHOUT CITING REASONS THEREOF. HE OUGHT TO HAVE CONSIDERED HIS OWN ORDER PASSED ON SAME GROUNDS FOR A DIFFERENT YEAR FOR THE SAME ASSESSEE. ITA NO. 5272/MUM/2019 ASSESSMENT YEAR 2015 - 16 PAGE 2 OF 2 2. THE LD. A.O. HAS ERRED ON FACTS AND IN LAW IN NOT ALLOWING DEPRECIATION ON GOODWILL WITHOUT CITING REASONS THEREOF. HE OUGHT TO HAVE CONSIDERED HIS OWN ORDER PASSED ON SAME GROUNDS FOR A DIFFERENT YEAR FOR THE SAME ASSESSEE. 3. THE HON'BLE CIT (A) HAS ERRED IN CONFIRMING INTERES T U/S 234B AND 234C OF THE ACT. 3. THE APPEAL WAS CALLED FOR THE HEARING. OUR ATTENTION WAS INVITED TO THE LETTER DATED 09 TH MARCH , 2019 FILED BY THE APPELLANT SEEKING PERMISSION TO WITHDRAW THIS APPEAL. 4. THE LD. DR DOES NOT OPPOSE TO THE PRAYERS SO M ADE BY THE ASSESSEE. 5. IN VIEW OF THE ABOVE POSITION, WE DEEM IT FIT AND PROPER TO PERMIT TO WITHDRAW THE AFORESAID APPEAL. 6. ACCORDINGLY, THIS APPEAL IS DISMISSED AS WITHDRAWN. PRONOUNCED IN THE OPEN COURT TODAY ON THE 27 TH NOVEMBER, 2020. SD / - SD - MAHAVIR SINGH PRAMOD KUMAR (VICE PRESIDENT) (VICE PRESIDENT) MUMBAI, DATED THE 27 H DAY OF NOVEMBER, 2020 NISHANT VERMA,SR. PS COPIES TO: (1) THE APPLICANT (2) THE RESPONDENT (3) CIT (4) CIT(A) (5) DR (6) GUARD FILE BY ORDER TRUE COPY ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES, MUMBAI