2007 (10) TMI 641

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..... me-tax Appellate Tribunal ( Tribunal ), Delhi Bench B , New Delhi in ITA No. 1097/Delhi/2002 dismissed the case set up by the revenue. 2. The revenue has raised four questions of law. 3. Insofar as questions (a ), (b) and (c) are concerned, the admitted position is that in view of the decision of this Court in CIT v. Woodward Governor (India) (P.) Ltd. [2007] 162 Taxman 60 (Delhi), no subst .....

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..... our notice section 38 of the Income-tax Act, 1961 as amended which suggests that know-how, patent, copyrights, trademarks, licences, franchises or any other business or commercial rights of similar nature, being intangible assets acquired on or after 1-4-1998 and therefore are entitled to depreciation. 7. The amendment to section 32 is not retrospective and we do not see how it assists learned .....

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