1982 (9) TMI 178 - AT - Income Tax

Summary

The revenue appealed against CIT (A) order allowing depreciation on technical know-how fees. Assessee claimed depreciation on technical know-how acquired from a French company. CIT (A) allowed the claim based on Gujarat High Court decision. Tribunal upheld CIT (A) decision, stating assessee was justified in claiming depreciation. Revenue's appeal was dismissed.