Dismissing the appeal of the revenue the Court held that\u00a0\u00a0 the Tribunal is justified in quashing the reassessment on the ground that the Assessing Officer\u00a0 could not have revisited the same issue on the pretext that a binding decision was overlooked when the claim of expenditure in respect of royalty paid for acquiring technical knowledge \u00a0was allowed\u00a0\u00a0 in the scrutiny\u00a0 assessment.\u00a0\u00a0 Followed CIT\u00a0v.\u00a0Kelvinator of India Ltd (2010) 320 ITR 561 (SC). Xerox Modicorp Ltd.\u00a0v.\u00a0Dy. CIT (2013) 350 ITR 308 (Delhi) (HC). (AY. 2002-03)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 147 : Reassessment-Business expenditure-Royalty-Reassessment was quashed on the ground that the AO could not have revisited the same issue on the pretext that a binding decision was overlooked. [S. 37(1), 148] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-20402","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-5j4","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=20402"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20402\/revisions"}],"predecessor-version":[{"id":20403,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20402\/revisions\/20403"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=20402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=20402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=20402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}