- (1.) These appeals are arising out of the common judgment/order of Income Tax Appellate Tribunal Jaipur Bench, Jaipur wherein appeal preferred by the department was dismissed and judgment/order of CIT appeal was upheld.
(2.) The brief facts of the case are that the assessee company was engaged in the business of manufacturing of aerated water. During the year under consideration, assessee company has declared gross profit of Rs. 106119869/- on total turnover of Rs. 58,48,40,008/- thereby giving a GP rate of 18.15% as against sales of Rs. 58,41,57,217/- and gross profit of Rs. 10,61,19,869/- i.e. 18.17 in the A.Y. 2007-08. The assessee has also shown income from "other sources" being profit on sale of fixed assets. During the completion of assessment, the Assessing Officer made dis-allowance of Rs. 9343872/- claimed by the assessee on account of depreciation on license and franchisee right (intangible assets). The assessee preferred appeal before the CIT(A). The CIT(A) allowed the appeal filed by the assessee and deleted the addition made by the Assessing Officer. The revenue preferred appeal before ITAT. The ITAT has upheld the decision of the CIT(A) and dismissed the appeal of the department relying on its own decision in assessee's case in A.Y. 2001-02 to 2007-08.
(3.) Deprecation for the relevant assessment years make a charge for these appeals between the same party for the relevant years 2001-02, 2003-04, 2005-06, 2007-08, 2008-09 and 2009-10. (3.1) Learned Counsel for the appellant has framed following questions :- "1. Whether on the facts and in circumstances of the case, the ITAT was justified in law in deleting the disallowance of Rs. 9343872/- made by the Assessing Officer on account of depreciation claim on intangible assets. 2. Whether on the facts and in circumstances of the case, the ITAT was justified in law in holding that assesse has purchased license, interest privilege, franchise etc. from seller M/s. Dhillon Kool Drinks and Beverages Ltd. For Rs. 28 crores without appreciating the fact that license and franchise rights were given to the assesse by PFL ( Pepsi Food Ltd.) and not by the seller M/s. Dhillon Kool Drinks and Beverages Ltd. and thus making the order to be perverse. 3. Whether on the facts and in circumstances of the case, the respondent assesse is entitled for any depreciation.";