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of <h1>Court declines depreciation issue on royalty, admits appeal on section 35(2AB) deduction for new product development.</h1> The Court declined to entertain the issue of depreciation on royalty paid by the Assessee Company and the deduction on capital expenditure for ... - Issues involved: The judgment involves the following issues: (A) Depreciation on royalty paid by the Assessee Company (B) Deduction u/s.35(1)(iv) on capital expenditure for construction (C) Deduction u/s.35(2AB) on expenditure for development of new products Issue A - Depreciation on royalty paid: The Court noted that the issue of allowing depreciation on royalty paid by the Assessee Company was already decided in favor of the Assessee in a previous case. Therefore, the Court declined to entertain this question.Issue B - Deduction on capital expenditure for construction: The Counsel mentioned that this issue was previously raised in a different case, and the Court had refused to entertain it. Following the precedent, the Court decided not to entertain this question as well.Issue C - Deduction on expenditure for development of new products: The Court admitted the appeal on the issue of allowing a deduction u/s.35(2AB) on expenditure incurred by the Assessee Company towards the development of new products for Glenmark Pharmaceuticals Inc. USA. This issue was considered for further examination and decision by the Court.
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