https://www.taxtmi.com/caselaws?id=205582 The Income-tax Appellate Tribunal dismissed the Income-tax Department's appeals regarding the assessment of income-tax on remittances under a technical collaboration agreement. The court allowed the assessee's appeal, stating no income-tax was payable on the remittances. It held that income-tax paid under the collaboration agreement was part of the lump sum consideration for acquiring know-how, eligible for deduction under section 35AB. The reversal of Assessing Officer's orders by the Commissioner of Income-tax (Appeals) impacted deductions claimed by the assessee, and prima facie adjustments under section 143(1)(a)(ii) were deemed impermissible for debatable claims. en-us Fri, 24 Sep 2010 00:00:00 +0530 Tue, 18 Dec 2012 15:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205582 The Income-tax Appellate Tribunal dismissed the Income-tax Department's appeals regarding the assessment of income-tax on remittances under a technical collaboration agreement. The court allowed the assessee's appeal, stating no income-tax was payable on the remittances. It held that income-tax paid under the collaboration agreement was part of the lump sum consideration for acquiring know-how, eligible for deduction under section 35AB. The reversal of Assessing Officer's orders by the Commissioner of Income-tax (Appeals) impacted deductions claimed by the assessee, and prima facie adjustments under section 143(1)(a)(ii) were deemed impermissible for debatable claims. Case-Laws Income Tax Fri, 24 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205582