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1 - 10 of 10 (1.05 seconds)Section 32 in The Income Tax Act, 1961 [Entire Act]
Section 47 in The Income Tax Act, 1961 [Entire Act]
Section 48 in The Income Tax Act, 1961 [Entire Act]
Section 50B in The Income Tax Act, 1961 [Entire Act]
Section 288 in The Income Tax Act, 1961 [Entire Act]
Triune Energy Services Pvt. Ltd., New ... vs Dcit, New Delhi on 27 April, 2018
taxmann.com 288). The Tribunal in that case has set aside the issue of
valuation of goodwill to the file of the Assessing Officer. The Hon'ble High
Court held that the same being a balancing figure the value of goodwill was to
be allowed. Hence the direction to treat the balance amount of WDV of assets
taken over and slump sale as goodwill is correct and in accordance with the
above case law. Accordingly, in the background of the aforesaid, we conclude
as under:
Dcit Cen Cir 3(2), Mumbai vs Jsw Steel Ltd, Mumbai on 14 May, 2020
Before partying we note that this appeal was heard in 22.1.20.The
pronouncement is delayed due to lockdown in view of Covid 19 pandemic. The
pronouncement is as per rule 34(5) of appellate tribunal rules and Honourable
Bombay High Court decision vide order dated 15.4.2020 extending the time
bound periods specified by hon'ble High Court by removing the period under
lockdown. This aspect is also dealt with in detail in ITAT Mumbai order in case
of DCIT vs JSW Steel vide order dt 15.5.2020.
Section 49 in The Income Tax Act, 1961 [Entire Act]
Commissioner Of Income-Tax, Madras vs K. H. Chambers, Madras on 9 November, 1964
22. The distinction between the case of the assessee and succession
envisaged u/s. 170 as submitted by learned Counsel of the assessee also fails
on the touchstone of Hon'ble Supreme Court decision in the case of CIT Vs.
K.H. Chambers [1965] 55 ITR 674 . In this view of the matter other decisions
referred by learned Counsel of the assessee cannot take precedence.
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