Trio Elevators Company(India) Ltd., Ahmedabad V. Asstt. Commissioner of Income Tax, Circle-8, Ahmedabad

MA 46/AHD/2016

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 4832 (ITAT-AHMEDABAD)
• Duration Of Justice: 5 month(s) 25 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 24-10-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: D
• Assessment Year: 2007-2008
• Appeal Filed On: 29-04-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Depreciation; Valuation report

Judgement Text

MA NO. 46 /AHD/201 6 ASSESSMENT Y EAR: 2007 - 08 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD D BENCH, AHMEDABAD [CORAM: PRAMOD KUMAR AM AND S.S. GODARA JM ] MA NO. 4 6 /AHD/201 6 (IN ITA NO. 2477 /AHD/201 1 ) ASSESSMENT YEAR: 20 07 - 08 TRIO ELE V ATO R S COMP ANY (INDIA) LIMITED ............. ... .. APPLICANT 404, SHIVAM COMPLEX, BHUYANGDEV CROSS ROAD, SOLA ROAD, GHATLODIA, AHMEDABAD 380 061 . [PAN: AA CCT 4923 E ] VS. ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE - 8, AHMEDABAD. . . . RESPONDENT APPEARANCES BY: S.N. SOPRKAR FOR THE APPLICANT PRASOO N KABRA, FOR THE RESPONDENT DATE OF CONCLUDING THE HEARING : 21.10. 2016 DATE OF PRONOUNC ING THE ORDER : 24 . 10. 2016 O R D E R PER PRAMOD KUMAR , AM : 1. BY WAY OF TH IS MISCELLANEOUS APPLICATION, THE ASSESSEE APPLICANT POINTS OUT THAT IN THE ORDE R DATED 08 .03.2016 PASSED BY US A MISTAKE APPARENT ON RECORD HAS CREPT IN ASMUCH AS FOLLOWING ADDITIONAL GROUND OF APPEAL TAK E N BY THE ASSESSEE REMAINED TO BE DISPOSED OF. THE APPELLANT PRAYS THAT ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW A O & CIT(A) OUG HT TO HAVE ALLOWED DEPRECIATION ON GOODWILL ACQUIRED BY APPELLANT DULY SUPPORTED BY VALUATION REPORT. MA NO. 46 /AHD/201 6 ASSESSMENT Y EAR: 2007 - 08 PAGE 2 OF 2 2. WHEN THIS RECTIFICATION APPLICATION WAS CALLED FOR H E ARING, LEARNED D EPARTMENTAL REPRESENTATIVE FAIRLY DID NOT DISPUTE THE FACT THAT THE ADDITIONAL GR OUND OF APPEAL HAS INDEED REMAINED TO BE DISPOSED OF. HE DID NOT SERIOUSLY OPPOSE THE RECTIFICATION APPLICATION. 3. IN VIEW OF THE ABOVE, WE HEREBY RECALL THE ORDER DATED 08.03.2016 PASSED BY THE TRIBUNAL FOR THE LIMITED PURPOSE OF , ALSO DISPOSING OF THE FOLLOWING ADDITIONAL GROUND OF APPEAL WHICH WAS TAKEN BY THE ASSESSEE , AND FIX THE MATTER FOR HEARING ON 08.12.2016 : - THE APPELLANT PRAYS THAT ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW AO & CIT(A) OUGHT TO HAVE ALLOWED DEPRECIATION ON GOODWI LL ACQUIRED BY APPELLANT DULY SUPPORTED BY VALUATION REPORT. 4. IN THE RESULT, MISCELLANEOUS APPLICATION I S ALLOWED IN THE TERMS INDICATED ABOVE . PRONOUNCED IN THE OPEN COURT TODAY ON 24 TH DAY OF OCTOBER, 2016 . SD/ - SD/ - S.S. GODARA PRAMOD KUMAR (JUDICIAL MEMBER) (ACCOUNTANT MEMBER) DATED: 24 TH DAY OF OCTOBER , 2016. COPIES TO: (1) THE APPELLANT (2) THE RESPONDENT (3) COMMISSIONER (4) CIT(A) (5) DEPARTMENTAL REPRESENTATIVE (6) GUARD FI LE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCHES, AHMEDABAD