2010 (3) TMI 689

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....bsp;       DR. D. Y. CHANDRACHUD, DEVADHAR J. P. JJ     JUDGMENT   Dr. D. Y. Chandrachud J.- The appeal by the assessee against the order of the Tribunal dated October 31, 2008 basically raises the following two questions of law :   "(a) Whether on the facts and in the circumstances of the case, the Tribunal erred in law in holding t....

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....ating the rental/licensing income as assessable under the head of profit and gains of business was accepted by the Revenue. For the assessment years 1993-94 and 2001-02 the assessments were completed under section 143(3) whereby the Assessing Officer had accepted the submission that the licence fees received by the assessee were business income. The court is informed that this was brought to the n....

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....iate that sending Shri Naval Kumar for training abroad was for the benefit of the business of the assessee. Counsel appearing on behalf of the assessee fairly placed on record the judgment of the Division Bench in the case of Echjay Forgings Ltd. v. Asst. CIT [2010] 328 ITR 286 (Bom) (Income-tax Appeal No. 584 of 2009, decided on June 12, 2009) where this court affirmed the decision of the Tribuna....