2010 (7) TMI 70

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....This is an application for condonation of delay of 229 days in re-filing the appeal. For the reasons stated in the application, delay of 229 days in re-filing the appeal is condoned. Accordingly, application stands disposed of. ITA 844/2010 1. Present appeal has been filed under Section 260A of Income Tax Act, 1961 (for brevity "Act 1961") challenging the order in Appeal No. 3171/Del/2007 dated....

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....l available on record and carefully going through the orders of tax authorities below, we are of the view that since the findings of CIT(A), wherein he observed that "From the terms of agreement it is quite clear that the assessee was granted non transferable license to use the trade mark Nike in connection with sourcing, marketing land sale of goods. The technical know how and other information f....

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....us, the CIT(A) in his well reasoned and well discussed order has rightly deleted the impugned addition made by the AO by holding that the royalty expenditure involved in the instant ground of appeal is revenue expenditure and not capital expenditure….." 4. Ms. Rashmi Chopra, learned counsel for revenue submitted that the ITAT erred in law and on merits in deleting disallowance of Rs.90,62,600/....