Pr. Commissioner of Income-tax-11 v. Ricoh India Ltd
[Citation -2020-LL-0117-70]

Citation 2020-LL-0117-70
Appellant Name Pr. Commissioner of Income-tax-11
Respondent Name Ricoh India Ltd.
Court HIGH COURT OF BOMBAY
Relevant Act Income-tax
Date of Order 17/01/2020
Assessment Year 2005-06
Judgment View Judgment
Keyword Tags depreciation on goodwill
Bot Summary: The Appellant revenue has framed following substantial question of law :- Whether on the facts and in circumstances of the case and in law the Tribunal was justified in holding that the assessee is entitled to claim of amortization / depreciation on good will without appreciating the facts that goodwill is depreciable u/s 32 of the Income Tax Act 1961, only if any consideration is paid for its acquisition and the assessee has not earmarked any specific amount toward such goodwill at the time amalgamation 2 30 ITXA 1867-2017.doc 4. Reference is made in the impugned order of the Tribunal to the decision of Respondent-assessee s case for the Assessment Year 2009-10 and the said decision is followed. The order passed by this Court in respect of the Assessment Year 2009-10 in Income Tax Appeal No.1127 of 2017 dated 5 November 2019 is placed on record. By following the decision of the Supreme Court in the case of Commissioner of Income Tax Vs. Smifs Securities Ltd., -348 ITR 302 the appeal is dismissed. In the circumstances no substantial question of law arises.


IN HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 1867 OF 2017 Pr. Commissioner of Income-Tax-11 Appellant Vs M/s.Ricoh India Ltd. Respondent Mr.Suresh Kumar, for Appellant. CORAM : NITIN JAMDAR & M.S.KARNIK , JJ. Date : 17 January 2020. P.C. : Heard learned Counsel for Appellant. 2. This Appeal relates to Assessment Year 2005-06. 3. Appellant revenue has framed following substantial question of law :- Whether on facts and in circumstances of case and in law Tribunal was justified in holding that assessee is entitled to claim of amortization / depreciation on good will without appreciating facts that goodwill is depreciable u/s 32 of Income Tax Act 1961, only if any consideration is paid for its acquisition and assessee has not earmarked any specific amount toward such goodwill at time amalgamation? 2 30 ITXA 1867-2017.doc 4. Reference is made in impugned order of Tribunal to decision of Respondent-assessee s case for Assessment Year 2009-10 and said decision is followed. order passed by this Court in respect of Assessment Year 2009-10 in Income Tax Appeal No.1127 of 2017 dated 5 November 2019 is placed on record. question of law raised therein is same. By following decision of Supreme Court in case of Commissioner of Income Tax (Appeals) Vs. Smifs Securities Ltd., -348 ITR 302 (SC) appeal is dismissed. 5. In circumstances no substantial question of law arises. Appeal is accordingly dismissed. M.S.KARNIK, J. NITIN JAMDAR, J. Digitally signed by Maria Maria Luiza Luiza Sequeira Date: 2020.01.23 Sequeira 11:10:02 +0530 Pr. Commissioner of Income-tax-11 v. Ricoh India Ltd
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