https://www.taxtmi.com/caselaws?id=212008 The appeal was partly allowed, directing the Assessing Officer to re-compute the plant and machinery value to determine Small Scale Industry (SSI) status under Section 80IB. The disallowance of royalty payment as per Arms Length Price was overturned by the ITAT, allowing the claim as a business expenditure. The deduction of royalty payment under Section 40(a) for the relevant year was remanded back to the AO for fresh consideration, providing the assessee with an opportunity to be heard. en-us Fri, 10 Feb 2012 00:00:00 +0530 Fri, 24 May 2013 16:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212008 The appeal was partly allowed, directing the Assessing Officer to re-compute the plant and machinery value to determine Small Scale Industry (SSI) status under Section 80IB. The disallowance of royalty payment as per Arms Length Price was overturned by the ITAT, allowing the claim as a business expenditure. The deduction of royalty payment under Section 40(a) for the relevant year was remanded back to the AO for fresh consideration, providing the assessee with an opportunity to be heard. Case-Laws Income Tax Fri, 10 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212008