2011 (12) TMI 565

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....pondent : Sunil Talati ORDER G. C. Gupta (Vice-President) These four appeals by the Revenue for the Asstt.Year 2004-2005, 2005-2006 and 2006- 2007 are directed against the order of the Commissioner of Income- Tax (Appeals), Ahmedabad. They are being disposed of with this consolidated order. 2. Identical ground in all appeals in these four appeals by the Revenue reads as under: ....

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....usive right for marketing of the products of its sister concern and assessee-firm had established trade mark of its own. He relied on the decision of the ITAT Mumbai Benches in the case of Skyline Carters Pvt. Ltd. Vs. ITO, 20 SOT 266 (Mum) in support of the arguments. 4. We have considered rival submissions and perused the orders of the AO and the CIT(A). We find that the only common issue in ....

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....gible asset acquired from the outgoing partners under Section 32(1)(ii) of the IT Act. These facts have not been doubted by the Revenue. The CITA) recorded a finding that the payments had been made not only for the sake of "Goodwill" but for rights of commercial nature i.e. marketing rights for the purpose of acquiring above intangible assets and tools of business. The CIT(A) has further observed ....