Court held that there was nothing illegal or improper on the part of the Commissioner (Appeals) or the Tribunal in having disallowed the royalty expenses to the extent being attributable to the previous year 1992-93, which could not have been claimed in the assessment year 1993-94. The assessee, instead of claiming the amount in the assessment year 1992-93 claimed it as well in the assessment year 1993-94, which was not sustainable. No question of law arose. Entitle to deduction for the period in question.( AY. 1993 -94) (AY. 1994 -95).
Apollo Tyres Ltd. (No. 2) v. ACIT (2019) 416 ITR 539 (Ker.)(HC) CIT v. Apollo Tyres Ltd. (No. 2) (2019) 219 ITR 546 ( Ker.)(HC)
S. 37(1) : Business expenditure-Royalty-Disallowance of expenses to extent not attributable to previous year relevant to Assessment year is held to be proper–Entitle to deduction for the period in question.