आदेश/O R D E R

PER MAKARAND V. MAHADEOKAR, AM:

The present appeals have been filed by both assessee and revenue against the orders of the Commissioner of Income Tax (Appeals)-1, Ahmedabad [hereinafter referred to as 'CIT(A)'] under Section 250 of the Income Tax Act, 1961 [hereinafter referred to as 'the Act'] for the respective Assessment Years (A.Y.). Since the issues involved are common, they are decided through a common order.

Facts of the case

2. The assessee is a closely held company and engaged in providing micro credit finance. It was incorporated on 22-04-2009. On 01-04-2010, the micro finance activity Friends of WWB (FWWB), India, a 12A registered trust was transferred to the assessee company. Post such transfer, A.Y. 2011-12 was the first assessment year and the primary and substantial issue in that appeal before Tribunal related to denial of depreciation goodwill/intangible assets. In subsequent years i.e. years considered in this appeal the issues are identical and both assessee and revenue used A.Y. 2011-12 as a reference year in assessment and appellate proceedings.

3. The assessee compan