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TMI Blog2008 (2) TMI 936X X X X Extracts X X X X X X X X Extracts X X X X ..... (i) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in holding that the technical knowhow expenditure (technical assistance fees) is revenue expenditure ignoring the fact that as per amended provisions of Section 32, technical knowhow is an intangible asset and the fee for obtaining the same is a capital expenditure and not revenue expenditure? (ii) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in holding that the profit of US and UK branches is not taxable in India and should be excluded from the taxable profit of the assessee? (iii) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in rest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... admission, obtained from his client, a copy of the order dated 29th July, 2015 passed by the Assessing Officer giving effect to the impugned order dated 22nd October, 2014 on this issue. In support, he tenders a copy of the same across the bar. 5. On examination of the order dated 29th July, 2015, we enquired of Mr. Chhotaray as to why we were informed that no order consequent to the impugned order of the Tribunal dated 22nd October, 2014 has been passed by the Assessing Officer on this issue. Mr. Chhotaray again informs us that the Assessing Officer, who has instructed him in this matter, met him twice and had specifically told him that no order has been passed consequent to the impugned order dated 22nd October, 2014 of the Tribunal in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oundation of the order dated 29th July 2015 and subsequent orders in appeal will be set aside. Besides, being most unfair to the respondent assessee. 7. In the above view, we direct the Assessing Officer to file an affidavit pointing out the circumstances which led to his giving incorrect fact to the Counsel for the Revenue leading to unnecessary waste of time and effort. 8. We adjourn the hearing of this appeal to 26th February, 2018 to enable the filing of the affidavit. 9. We also direct Mr. Chhotaray, learned Counsel appearing for the Revenue to serve a copy of this order upon the jurisdictional Chief Commissioner of Income Tax and also the other Chief Commissioners of Income Tax functioning within the jurisdiction of this Court. Thi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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