TMI Blog2002 (9) TMI 97X X X X Extracts X X X X X X X X Extracts X X X X ..... still less concerned with the provisions introduced in 1998 in section 32(1)(ii) of the Income-tax Act which relates to depreciation of know-how which is used for the purposes of the assessee's business. - Since these sections are not involved and the matter does not require any consideration of any still unsettled point of law, the appeal petition is summarily rejected. - - - - - Dated:- 20-9-2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... preciation but disallowed total deduction. The assessee won both before the Commissioner of Income-tax (Appeals) and the Tribunal. The concurrent finding of facts before both the said departmental authorities is that the sum was paid by the assessee to its Japanese suppliers, who supplied the technical know-how to the assessee. The know-how related to a sophisticated system of paint finishing. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ective third party, together with a subsequent approval of the Government of India. In these circumstances, the Commissioner of Income-tax (Appeals) and the Tribunal have both found that the information obtained by the assessee was of the same type as a mere stock-in-trade which the assessee simply sold off. Enduring benefit of any type could not be discerned by the Department. That in these ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1985-86, section 35AB which was introduced from April 1, 1986, permitting deduction of know-how expenditure at six different stages at one-sixth of the amount in each year is not material. The section is mentioned in the questions in the appeal petition but Mr. Deb, appearing for the Revenue, fairly stated that that part of the appeal petition need not be considered by us. We are still less con ..... X X X X Extracts X X X X X X X X Extracts X X X X
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