2014 (1) TMI 445

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....n of Income Tax Appellate Tribunal, Circuit Bench, Ranchi in ITA No. 350/PAT/02, the Revenue has preferred this appeal raising the question of law that whether ITAT was not justified in holding that prima facie adjustment can be made while processing the return under Section 143(1)(a) of the Income Tax Act in respect of income tax component liable to be paid by assessee on technical knowhow fees p....

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....ontention that the Assessee claimed Income tax deduction under Section 35AB of the Income Tax Act on technical know how fee as well as Income tax components paid by it thereupon. However, the Assessing Officer while processing of the return of income under Section 143(1)(a) of the Income Tax Act made prima facie adjustment by disallowing the amount of Rs.13,33,733/- representing Income tax compone....

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....not justified in refusing the same. 5. The contention of the assessee is that the earlier judgment rendered by the ITAT in the case of the Assessee itself for the years 1993-94, 1994-95 and 1995-96 on the similar issue has been confirmed by this Court in Tax Appeal No.27 of 2001 and analogous cases. The judgment rendered in the said Tax Appeal has been produced by the counsel for the Assessee. 6....