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| The Tax Publishers2020 TaxPub(DT) 1279 (Bang-Trib) INCOME TAX ACT, 1961
Section 32
Where assessee objected disallowance of depreciation claimed on trademarks, Tribunal held that no inference was called for in order of CIT(A) and valuation report submitted by assessee before Tribunal was not admitted as it was a new evidence.
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Depreciation - Disallowance of depreciation claimed on trademarks - Valuation report submitted before Tribunal not considered holding that it was a new evidence -
Grievance of assessee was regarding disallowance of depreciation in assessment years 2013-14 and 2014-15 claimed on trademarks. Assessee contended that since, there was no disallowance of depreciation in year of purchase of trade mark i.e. assessment year 2012- 13, no disallowance of such depreciation can be made in the succeeding years in assessment years 2013-14 and 2014-15. Held: Assessee had furnished a copy of valuation report regarding trade mark which was, dated 5-9-2017 whereas order of CIT(A) was dated 22-12-2017 for assessment year 2013-14 and, dated 18-12-2017 for assessment year 2014-15. It was not made clear as to whether valuation report was made available before CIT(A) or not and obviously it could not be made available before AO since Assessment Orders were much prior to date of valuation report. There was no finding of CIT(A) on the aspect as to whether any valuation report was made available before him or not. Valuation report appeared to be a new evidence which appeared without complying with Tribunal Rules in respect of filing of Paper Book and thus, same was not admitted. Thus, no inference was called for in order of CIT(A).
REFERRED :
FAVOUR : Against the assessee
A.Y. : 2013-14 & 2014-15
IN THE ITAT, BANGALORE BENCH
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