Bombay High Court
Pr. Commissioner Of Income Tax-10 vs M/S. India Medtronic Pvt. Ltd on 7 January, 2020
Author: M.S. Karnik
Bench: Nitin Jamdar, M.S. Karnik
skn 1 1453.17-itxa.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO. 1453 OF 2017
Pr.Commissioner of Income Tax-10. ... Appellant.
V/s.
India Medtronic Pvt. Ltd. ... Respondent.
Mr.Akhileshwar Sharma for the Appellant.
Mr.Nishant Thakkar with Ms.Jasmine Amalsadwala i/b.
PDS Legal for the Respondents.
CORAM : NITIN JAMDAR AND
M.S. KARNIK, JJ.
DATE : 7 January 2020. P.C. :
Heard the learned counsel for the parties.
2. The learned counsel for the Respondent submits that when the notice is issued by the Assessing Officer pursuant to the impugned order passed by the Tribunal, the depreciation of non- compete fees of Rs.4.73 crore (as allowed by the Tribunal) is shown as Rs.59,12,500/-. He submits that the assertion of the Assessing Officer that the amount of Rs.4.73 crore is to be treated as capital nature has been accepted by the Respondent- Assessee before the Tribunal and the Assessee has sought depreciation thereof. As such ::: Uploaded on - 10/01/2020 ::: Downloaded on - 08/06/2020 00:03:37 ::: skn 2 1453.17-itxa.doc the tax effect in this appeal falls below the threshold limit of Rs.1 crore as provided in Circular No.17/2019 dated 8 August 2019. The learned counsel for the Appellant seeks time to take instructions. If the appeal has to be pursued further, an affidavit be filed setting out reasons. Stand over to 27 January 2020.
(M.S. KARNIK, J.) (NITIN JAMDAR, J.)
::: Uploaded on - 10/01/2020 ::: Downloaded on - 08/06/2020 00:03:37 :::