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| The Tax Publishers2021 TaxPub(DT) 1417 (Del-Trib) INCOME TAX ACT, 1961
Section 32(1)
AO disallowed assessee's claim of depreciation on goodwill. However, the concerned year was not the initial year of claim of depreciation, therefore, AO was directed to delete disallowance made in the captioned assessment year.
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Depreciation - Allowability - AO made disallowance without disturbing the identical claim in the initial year of claim -
Assessee claimed depreciation on goodwill. AO disallowed assessee's claim. Assessee pleaded that year under consideration was not the initial year of claim of depreciation and unless the claim was disturbed in the initial year of claim, subsequent years could not be disturbed. Held: As the concerned year was not the initial year of claim of depreciation, AO was directed to delete disallowance made in the captioned assessment year.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2012-13 & 2013-14
INCOME TAX ACT, 1961
Section 14A(2) Rule 8D
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