WOCKHARDT LTD, V. ADDL CIT 10(1),

MA 208/MUM/2015

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 4112 (ITAT-MUMBAI)
• Duration Of Justice: 4 month(s) 27 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 04-02-2016
• Appeal Filed By: Department
• Bench Allotted: G
• Assessment Year: 2006-2007
• Appeal Filed On: 07-09-2015
• Court: TRIBUNAL
• Department Lawyers: VACHARPATI TRIPATHI
• Assessee Lawyers: ARPIT AGARWAL; DINESH BAFNA
• Keywords: Depreciation

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL G , BENCH MUMBAI BEFORE SHRI R.C.SHARMA , A M & SHRI SANJAY GARG , J M MISCELLANEOUS APPLICATION NO S . 207 TO 209 /MUM /20 1 5 (ARISING OUT OF ITA NO S . 2376 TO 2378 /MUM/2011) ( / ASSESSMENT YEAR S : 20 0 5 - 06 , 2006 - 07 & 2007 - 08 ) WOCKHARDT HOSPITAL LTD., WOCKHARDT TOWERS, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI - 400051 VS. ADCIT - 10(1), MUMBAI ./ ./ PAN/GIR NO. : A AACW 3342 G ( / APPELLANT ) .. ( / RESPONDENT ) /ASSESSEE BY : SHRI DINESH BAFNA & ARPIT AGARWAL /REVENUE BY : SHRI VACHARPATI TRIPATHI / DATE OF HEARING : 29/01/2016 / DATE OF PRONOUNC EMENT 04/02 /201 6 / O R D E R PER R.C.SHARMA (A.M) : TH ESE MISCELLANEOUS APPLICATION S ARE FILED BY THE ASSESSEE TO RECTIFY AN APPARENT MISTAKE IN THE ORDER OF TRIBUNAL DATED 10 - 7 - 2015. 2. IT WAS CONTENDED BY LD. AR THAT THE TRIBUNAL IN ITS ORDER DAT ED 10 - 7 - 2015 HAS REMANDED THE MATTER BACK TO THE FILE OF AO WITH REGARD TO ASSESSEES CLAIM OF DEPRECIATION ON MANAGEMENT RIGHTS AFTER OBSERVING THAT IN ASSESSEES OWN CASE EXACTLY SIMILAR ISSUE WAS DECIDED BY THE TRIBUNAL. AS PER LD. AR IT IS THE FIRST YE AR OF ASSESSEES CLAIM OF DEPRECIATION ON MANAGEMENT RIGHTS AND THERE IS NO ORDER OF TRIBUNAL IN ASSESSEES OWN CASE, THEREFORE, THERE IS AN APPARENT MISTAKE IN THE OBSERVATION MADE BY THE TRIBUNAL IN PARA 10 OF ITS ORDER. MA NO. 207 - 209 /15 2 3. ON THE OTHER HAND, LD. DR CONT ENDED THAT THERE IS NO MISTAKE IN THE ORDER OF THE TRIBUNAL. 4. WE HAVE CONSIDERED RIVAL CONTENTIONS AND GONE THROUGH THE ORDER OF THE TRIBUNAL DATED 10 - 7 - 2015, WHEREIN AT PARA 10, THE TRIBUNAL HAS RESTORED ASSESSEES GROUND FOR CLAIM OF DEPRECIATION ON MA NAGEMENT RIGHTS FOR DECIDING AS PER THE ORDER OF THE TRIBUNAL IN ASSESSEES OWN CASE IN THE PRECEDING YEAR . HOWEVER, THERE IS NO ORDER OF THE TRIBUNAL IN ASSESSEES OWN CASE, THEREFORE, IT AMOUNTS TO MISTAKE APPARENT FROM RECORD. THE TRIBUNAL IN ITS ORDER DATED 10 - 7 - 2015 AT PARA 9 HAS QUOTED VARIOUS DECISIONS OF THE HONBLE HIGH COURTS AND TRIBUNAL, WHEREIN DEPRECIATION WAS ALLOWED IN CASE OF INTANGIBLE ASSETS. ACCORDINGLY, WE RECTIFY THE ORDER DATED 10 - 7 - 2015 TO THE EXTENT OF OBSERVATION MADE IN PARA 10 O F THE ORDER AND DIRECT THE AO TO ALLOW ASSESSEES CLAIM OF DEPRECIATION FOLLOWING THE DECISIONS OF HON BLE HIGH COURT AND TRIBUNAL QUOTED IN PARA 9 OF OUR ORDER, DATED 10 - 7 - 2015. BEFORE PARTING WITH THE MATTER, IT IS PERTINENT TO MENTION THAT RECENTLY THE HON BLE SUPREME COURT IN THE CASE OF SMIFS SECURITIES LTD., 348 ITR 3 02 , HELD THAT INTANGIBLE ASSETS IN THE FORM OF GOODWILL IS ELIGIBLE FOR CLAIM OF DEPRECIATION. 6 . IN THE RESULT, ALL THE MISCELLANEOUS APPLICATION S OF THE ASSESSEE ARE ALLOWED IN TERMS I NDICATED HEREIN ABOVE. O RDER PRONOUNCED IN THE OPEN COURT ON THIS 04/02 / 201 6 . SD/ - SD/ - ( SANJAY GARG ) ( R.C.SHARMA ) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI ; DATED 04/02 /201 6 . . /PKM , . / PS MA NO. 207 - 209 /15 3 / COPY OF THE ORDER FORWARDED TO : / BY ORDER, / ( ASSTT. REGISTRAR) , / ITAT, MUMBAI 1. / THE APPELLANT 2. / THE RESPO NDENT. 3. ( ) / THE CIT(A), MUMBAI. 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE. //TRUE COPY//