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Judgment
We are informed that office objections have been removed. Office to number the appeal. The assessment year involved in this appeal is A.Y. 2003-04.
In this appeal following two questions of law have been raised for our consideration.
(a) Whether on the facts and in the circumstances of the case and in law the Tribunal was correct in directing the Assessing Officer to allow deduction u/s. 10A of the Income Tax Act, 1961 though the assessees claim for the initial assessment year was not found admissible and was rejected?
(b) Whether on the facts and in the circumstances of the case and in law, the Tribunal was correct in holding that the product development expenditure was of revenue nature, though the expenditure resulted in an advantage of enduring nature of the assessee and also the assessee had treated the same as intangible in its accounts?
So far as question (b) is concerned, the Counsel for the revenue states that the tribunal in the impugned order has relied upon its decision in the matter of CIT v. Renu Electronics Pvt. Ltd. for granting benefit to respondent assessee. The revenue carried the Tribunal order in the matter of Renu Electronics (supra) in appeal to this Court and by order dated 15/2/2010 this Court has dismissed the Revenues appeal.
Consequently, no occasion to entertain the question (b) as formulated would arise.
Appeal admitted on question (a). To be heard along with Income Tax Appeal No. 1120 of 2011.