Depreciation allowable on Goodwill from Acquisition of Business Unit - ITAT grants relief to DHL Logistics

Depreciation allowable on Goodwill from Acquisition of Business Unit - ITAT grants relief to DHL Logistics

IN THE INCOME-TAX APPELLATE TRIBUNAL

The Relevant Text of the Order as follows : 25. Considering the decision of Tribunal for earlier years, which was followed by a co-ordinate bench in an appeal for A.Y. 2010-11, therefore, respectfully following the same, this ground of appeal is also allowed. In view of the aforesaid discussion on various issues raised by the assessee, the Assessing Officer/TPO is directed to recompute the adjustment in accordance with the directions hereinabove. 26. As a result, the appeal of the assessee is allowed.

C.O. No. 159/Mum/2016 by the assessee

27.The ld. AR of the assessee submits that in case appeal of the revenue is dismissed, the grounds of appeal raised in the present Cross Objection would become infructuous. Considering the submission of ld. AR of the assessee, the grounds of appeal raised by the assessee are dismissed as infructuous. 28. As a result, the appeal of the assessee is allowed and appeal of the revenue is dismissed and the cross objection of assessee is also dismissed being infructuous.