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2014 (5) TMI 550 - HC - Income TaxApplicability of section 28(va)(b) of the Act - Nature of income – Business receipts or capital gains - Consideration towards transfer of motherboards sales and marketing – Held that:- Tribunal has considered all the relevant aspects and has recorded a finding of fact holding that the claim made by the assessee company as “Capital Gains” in respect of the amount received by it in terms of the Transfer of Business Agreement, is proper - the findings of fact recorded by the CIT (A) and the Tribunal are based on proper appreciation of the material on record and in consonance with the provisions of Section 28 (va) First proviso of the Income Tax Act. Deduction u/s 80IB of the Act – Apportionment of R&D expenses – Held that:- The order of CIT(A) and Tribunal are also based on proper appreciation of the material on record - the product has been manufactured in 80 IB units since 1/9/1999 and the expenditure on research and development has been incurred since 2007 - the expenditure on research and development cannot be said to be on a product which is commercialized – as such no substantial question of law arises for consideration – Decided against Revenue.
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