Appeal Details
Counselvise Citation
[2012] 123 COUNSELVISE.COM (IT) 9382 (ITAT-HYDERABAD)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
4 month(s) 11 day(s)
Appellant
Respondent
Appeal Type
Miscellaneous Application
Pronouncement Date
05-10-2012
Appeal Filed By
Assessee
Order Result
Dismissed
Bench Allotted
A
Assessment Year
misc
Appeal Filed On
24-05-2012
Judgement Text
IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A', HYDERABAD BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. ASHA VIJAYARAGHAVAN, JUDICIAL MEMBER MA NO. 140/HYD/2012 IN I.T.A. NO. 572/HYD/2004 A.Y. 2000-01 M/S. DR. REDDY'S LA BORATORIES LTD., HYDERABAD PAN: AAACD7999Q V . THE ASST. CIT CIRCLE-1(2) HYDERABAD APPELLANT RESPONDENT APPELLANT BY: SRI S. RAGHUNATHAN RESPONDENT BY: SRI V. SRINIVAS DATE OF HEARING: 28 .0 9 .2012 DATE OF PRONOUNCEMENT: 05.10.2012 O R D E R PER CHANDRA POOJARI, AM: THIS MISCELLANEOUS APPLICATION BY THE ASSESSEE IS ARISING OUT OF THE ORDER OF THE TRIBUNAL IN ITA NO. 572/HYD/2004 D ATED 14.11.2008. 2. THE LEARNED AR SUBMITTED THAT THE ASSESSEE RAISED T HE GROUND IN ITS APPEAL WITH REGARD TO ALLOWABILITY OF DEPRECIAT ION ON GOODWILL U/S. 32 OF INCOME-TAX ACT, 1961. IN THE MEANTIME, THE A SSESSEE ALSO RAISED AN ADDITIONAL GROUND BEFORE THE TRIBUNAL WITH REGAR D TO ALLOWABILITY OF EXPENDITURE ON GOODWILL U/S. 37 OF THE ACT. ACCORD ING TO THE LEARNED AR THOUGH THE TRIBUNAL ADJUDICATED THE ISSUE RELATI NG TO ALLOWABILITY OF EXPENDITURE ON GOODWILL U/S. 37 OF THE ACT NO FINDI NG HAS BEEN GIVEN ON ALLOWABILITY OF DEPRECIATION ON GOODWILL U/S. 32 OF THE ACT. ACCORDING TO THE LEARNED AR THE ISSUE OF ALLOWABILITY OF DEPRECI ATION ON GOODWILL CAME BEFORE THIS TRIBUNAL IN ITA NO. 218/HYD/2006 I N THE CASE OF AP PAPER MILLS LTD. VIDE ORDER DATED 14 TH NOVEMBER, 2008 WHICH DECIDED IN FAVOUR OF THE ASSESSEE. BEING SO, THE ASSESSEE' S CASE ALSO SHOULD BE DECIDED IN SIMILAR LINES. 3. THE DR RELIED ON THE ORDER OF THE TRIBUNAL. 2 MA NO. 140/HYD/2012 M/S. REDDY'S LABORATORIES LTD. ======================= 4. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE MATE RIAL ON RECORD. IN THIS CASE, THE ASSESSEE RAISED THE ADDI TION GROUND WITH REGARD TO ALLOWABILITY OF EXPENDITURE ON GOODWILL U /S. 37 OF THE ACT AND THE SAME WAS CONSIDERED BY THE TRIBUNAL. THE ISSUE WAS RESTORED TO THE FILE OF THE ASSESSING OFFICER TO EXAMINE THE CLAIM OF THE ASSESSEE U/S. 37 AND TO ALLOW THE SAME IF FOUND ELIGIBLE. BEING SO, THERE IS NO MERIT IN THE ARGUMENT OF THE ASSESSEE'S COUNSEL THAT THE CLA IM OF THE ASSESSEE U/S. 32 WAS NOT AT ALL CONSIDERED BY THE TRIBUNAL. THE CLAIM U/S. 37 BEING THE LARGER CLAIM, IT WAS DULY ADJUDICATED BY THE TRIBUNAL AND THE GROUND RELATING TO SECTION 32 HAS BECOME INFRUCTUOU S. HENCE IT WAS NOT ADJUDICATED. ACCORDINGLY, WE DO NOT FIND ANY MERIT IN THE ARGUMENT OF THE ASSESSEE'S COUNSEL. 5. IN THE RESULT, MA FILED BY THE ASSESSEE IS DISMISSE D. ORDER PRONOUNCED IN THE OPEN COURT ON 5 TH OCTOBER, 2012. SD/ - (ASHA VIJAYARAGHAVAN) JUDICIAL MEMBER SD/ - (CHANDRA POOJARI) ACCOUNTANT MEMBER HYDERABAD, DATED 5 TH OCTOBER, 2012 TPRAO COPY FORWARDED TO: 1. M/S. DR. REDDY'S LABORATORIES LTD., 7 - 1 - 27, AMEERPET, HYDERABAD. 2. ASST. CIT, CIRCLE - 1( 2 ), HYDERABAD. 3. THE CIT(A) - I I, HYDERABAD. 4 . THE CIT CONCERNED , HYDERABAD. 5 . THE DR A BENCH, ITAT, HYDERABAD
