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2018 (10) TMI 64 - HC - Income TaxRevision u/s 263 - disallowance under Section 40(a)(ia) on royalty - Held that:- We find that there is no discussion on the said aspect in the order passed by the Tribual, except one line finding or conclusion that the question of royalty was examined by the Assessing Officer. We also find that the Tribunal has not discussed and gone into the question of disallowance under Section 40(a)(ia) of the Act on royalty, an aspect/question mentioned and referred to by the Commissioner of Income Tax in his order under Section 263. Assessee fairly states that the order of the Tribunal to this extent may be set aside and remanded for fresh consideration. We accept the said statement. It is directed that the Tribunal would re-examine the issue of royalty and disallowance under Section 40(a)(ia) of the Act afresh in view of the observations and findings recorded by the Commissioner of Income Tax in his order under Section 263 of the Act and submission of the respondent-assessee.
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