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2016 (11) TMI 326 - ITAT DELHIUse of technical know-how and trademarks is a Revenue expenditure and cannot be treated as a capital expenditure. Therefore, the disallowance after allowing depreciation @ 25% made by the AO is hereby deleted. In the result, this ground of the assessee is allowed. Dsallowance u/s 14A - Held that:- As in view of the submissions made by the Ld. AR and the calculations submitted, we restore the issue to the file of the AO with the direction that the disallowance u/s 14A be recomputed after duly considering the correct figures. The AO shall afford a proper opportunity to the assessee of being heard in this issue. In the result, this ground is allowed for statistical purposes.
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