M/S ROCKMAN CYCLES INDS. LTD. vs. COMMR. OF INCOME TAX, LDH. AND ANR.

The appeals are allowed and impugned orders are

Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA

35 AB of Act 1961 and the relevant portion of Section 35AB is extracted below: “35AB. Expenditure on know-how.- (1) Subject to the provisions of Sub-section (2), where the assessee has paid in any previous year any lump sum consideration for acquiring any know- how for use for the purposes of his business, one-sixth of the amount

M/S PANCHSHEEL TEXTILE MANFAC. & TRAD. vs. C I T AND ANR.

Bench: MRS. JUSTICE LISA GILL,MRS. JUSTICE SUDEEPTI SHARMA

capital borrowe Ltd by the Asse be set aside bein ANALYSIS OF 28. A p that the learned appellant was no the previous yea (O&M) and other connected ca e fact that even the shares of M any pledge were not sold duri of it. asoning given by the Assessin r Section