9911796707
TMI Blog2014 (11) TMI 1248X X X X Extracts X X X X X X X X Extracts X X X X ..... s. As a result, the claim made by the assessee is allowed and disallowance is deleted. - ITA No. 4776/Del/2013 - - - Dated:- 14-11-2014 - SHRI G.D. AGARWAL, VICE PRESIDENT AND SHRI A.T. VARKEY, JUDICIAL MEMBER Appellant by: Smt. Rano Jain, Adv. Respondent by: Smt. Parminder Kaur, Sr. DR ORDER PER A.T. VARKEY, J.M. This is an appeal arising from an order of ld. CIT(A)- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . This unit is eligible for exemption u/s 10B of the Act on the profit earned. The assessee company was paying the royalty expenses to MACNAUGHT on the various products sold by it as agreed with MACNAUGHT on 19.11.2002. MACNAUGHT is an Australian company. It has no connection with the management of the assessee company. This royalty is being paid by the assessee for putting the trademark MACNAUGHT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e amount as capital in nature. Considering the various case laws relied upon by the ld. AR for the assessee, we allow the appeal of the assessee. Since we have allowed the appeal of the assessee we do not find any necessity to consider the alternate pleadings of the ld. AR with regard to the claim of depreciation and taking the cost of acquisition of technology at initial stage at sum total of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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