TMI Blog2023 (4) TMI 202X X X X Extracts X X X X X X X X Extracts X X X X ..... the appeal filed by the revenue on the ground of no substantial question of law arises for consideration as the Tribunal has returned the finding of fact. Tribunal having examined the factual position and rendered a decision, we are of the view that no substantial questions of law arises for consideration in so far as substantial questions of law as suggested by the revenue and accordingly the same are rejected. Provision for warranty - Tribunal has examined the relevant clause in the terms and conditions and found that the warranty clause is in-built in the guarantee clause itself as the assessee, in the event of any defective supply within a period of 5-1/2 years has to replace the meters and in the event of the meters not getting re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come Tax Rules, 1962, allows for Reliable and accurate adjustment to account for difference between intonated transaction and comparable uncontrolled transactions ? (ii) Whether the Learned Income Tax Appellate Tribunal erred in law in allowing the depreciation on Intellectual property rights under Section 32 of the Income Tax Act, 1961, considering Intellectual property Rights as technical known now ? (iii) Whether the Learned Income Tax Appellate Tribunal erred in law in treating the provision of obsolescence of inventory or ascertained liability where are no cogent material is unavailable to sustainable the valuation of inventory ? (iv) Whether on the facts and circumstances of the case and on law the Learned Tax Appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... same issue, substantial questions of law (iii) and (vi) are on the same issue and (vii) is an individual question. So far as substantial questions of law (i) and (iv) are concerned, it is a recurrent issue and in the assessee s own case for the financial years 2007-08, 2008-09 and 2012-13, the Tribunal has held in favour of the assessee and those orders have become final. In the impugned order, the Tribunal has followed its decisions and before us the revenue has not been able to point out any distinctive feature for us to take a departure from the consistent manner in which the relief was granted in favour of the assessee. Therefore, substantial questions of law (i) and (iv) having been answered in favour of the assessee in the earlier ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le Delhi High Court in the case of CIT vs. Hotline Teletube Components Ltd. reported in (2008) 175 taxmann 286 (Delhi) wherein the Court took note of the more or less identical factual circumstances and dismissed the appeal filed by the revenue on the ground of no substantial question of law arises for consideration as the Tribunal has returned the finding of fact. In our view, the Tribunal having examined the factual position and rendered a decision, we are of the view that no substantial questions of law arises for consideration in so far as substantial questions of law (iii) and (vi) as suggested by the revenue and accordingly the same are rejected. This leaves us with substantial question of law (vii) which is a provision for w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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