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2018 (5) TMI 443 - HC - Income TaxDeduction u/s 80HHC - Excise duty paid exclusion from the total turnover for purposes of computation of deduction - Held that:- It is an agreed position between the parties that this question stands concluded in favour of the applicant assessee and against the respondent Revenue by the decision of this Court in Commissioner of Income Tax Vs. Sudarshan Chemicals Industries Ltd. [2000 (8) TMI 73 - BOMBAY High Court]. Entitlement to deduction u/s 35AB as against under Section 37(1) - assessee had acquired the ownership rights in the technical knowhow included in the agreement - Held that:- As on the application of law to the facts in the present facts, the expenditure on account of technical knowhow incurred under the Agreement dated 19th June, 1984 is classifiable under Section 35AB of the Act and not under section 37 of the Act. Therefore, question no.(ii) is answered in the affirmative in favour of the respondent Revenue and against the applicant assessee.
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