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TMI Blog2014 (5) TMI 550X X X X Extracts X X X X X X X X Extracts X X X X ..... st proviso of the Income Tax Act. Deduction u/s 80IB of the Act – Apportionment of R&D expenses – Held that:- The order of CIT(A) and Tribunal are also based on proper appreciation of the material on record - the product has been manufactured in 80 IB units since 1/9/1999 and the expenditure on research and development has been incurred since 2007 - the expenditure on research and development cannot be said to be on a product which is commercialized – as such no substantial question of law arises for consideration – Decided against Revenue. - Tax Appeal No. 20 of 2014 - - - Dated:- 2-4-2014 - F. M. Reis And Z. A. Haq,JJ. For the Appellant : Ms. Asha Desai, Adv For the Respondent : Mr. Jitendra Jain with Ms. Sumedha Joshi, A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shows that the respondent/assessee has received consideration which is assessable for the purposes of taxes as per the provisions of Clause (b) of Section 28 (va) of the Income Tax Act. In support of her submission she has relied on the Judgment reported in 35 ITR page 148 in the case of Commissioner of Income Tax, Nagpur Vs. Rai Bahadur Jairam Valji and others. It is submitted on behalf of the appellant that the CIT (Appeals) and the ITAT has committed an error in deleting the expenditure relating to R D apportioned to eligible 80 IB units though it was fully allocated by the respondent/assessee to non 80 IB units. The submission on behalf of the appellant is that the respondent/assessee has done this to reduce the tax liability by cl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sales and marketing of motherboards since 1st June, 2007 and has now transferred sales and marketing activity of motherboards to Gigabyte India, which is a joint venture company between D-Link and Gigabyte Technology company Ltd. Taiwan. By transferring this business D-Link has transferred all the knowledge based and the Goodwill it had gained/generated over the past 5 years to Gigabyte Technology (India) Limited. It has transferred the entire customer contacts, channel information and operational knowledge relating to motherboard business to Gigabyte Technology (India) Limited. It has also transferred the employees' including senior employees which were responsible for growing the motherboard business of Gigabyte. The ITAT has cons ..... X X X X Extracts X X X X X X X X Extracts X X X X
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