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2013 (11) TMI 562 - KARNATAKA HIGH COURTDeductibility u/s 37 of the Income Tax Act of privilege fee paid by the assessee to the State Government who was holding 100% share in the assessee – company – Deduction in the light of amendment to the provisions of section 24 of the Karnataka Excise Act, 1965 - Appellate Tribunal noticed that there was an amendment to provisions of section 24 of the Karnataka Excise Act, 1965 and subsequent to the Commissioner passing revisional order under section 263 of the Act and the effect of amendment was required to be examined as the section had been amended with retrospective effect and therefore the privilege fee paid by the assessee to the State Government who was holding 100% share in the assessee – company was again to be allowed as a deductible expenditure etc – Held that:- All aspects of the matter being left open by the Tribunal and the matter having gone back to the Commissioner who has to re-examine the whole thing and pass orders afresh, there is no need for interference at this stage to examine the questions of law.
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