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TMI Blog2018 (6) TMI 1621X X X X Extracts X X X X X X X X Extracts X X X X ..... e benefit u/s 35AB - whether 1/6th amount paid by the assessee for know-how for the purpose of setting up of modern plant is allowable under Section 35AB when the assessee had not commenced business in the relevant assessment year? - HELD THAT:- FAA had found that the expenses, being incurred for the purpose of know-how, definitely, the same is allowable. The Tribunal refused to entertain the appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee finding that the appeal before the Tribunal was not maintainable. - I. T. Appeal Nos. 1377 of 2009 And ITA No. 1393 of 2009 - - - Dated:- 8-6-2018 - MR K. VINOD CHANDRAN AND MR ASHOK MENON, JJ. For The APPELLANT (S) : ADVS. SRI. P. K. R. MENON, SR. COUNSEL, GOI(TAXES) AND SRI. JOSE JOSEPH, SC, FOR INCOME TAX For The RESPONDENT (S) : ADV. SRI. E. K. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lows: 1. Whether, on the facts and in the circumstances of the case and also in the light of the decision reported in 286 ITR 1 should not the Tribunal have decided the case on merits? 2. Whether, on the facts and in the circumstances of the case do the circulars and 276 ITR 519 relied on by the Tribunal have application to the facts of the case? ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Department from filing appeals where the tax effect is less than ₹ 2 lakhs. It was found that the circular applies equally to old cases and new cases. The learned Counsel appearing for the assessee also submits that the tax effect, in the subject year and the succeeding years was NIL for reason of the assessee having continuosly suffered loss in all the years. There can be no cascading effe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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