Ita/171/2009 Of The Commissioner Of Income Tax, Tvm v. M/S.termo Penpal Ltd

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM MONDAY, THE 29TH JUNE 2009 / 8TH ASHADHA 1931 ITA.No. 171 of 2009() --------------------- ITA.760/2007 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT/APPELLANT: -------------------- THE COMMISSIONER OF INCOME TAX,THIRUVANANTHAPURAM. BY ADV. SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S)/RESPONDENT: --------------------- M/S.TERUMO PENPAL LTD., SASTHAMANGALAM, TRIVANDRUM. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 29/06/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & C.K.ABDUL REHIM, JJ. ----------------------------------- I.T.A. No. 171 of 2009 -------------------------------------- Dated this the 29[th] day of June, 2009 J U D G M E N T---------------------- Ramachandran Nair,J. Question raised is whether assessee was rightlygranted higher rate of depreciation by CIT (Appeal) which wasconfirmed by Tribunal. We notice that the claim made wasallowed by appellate authorities based on the certificate issuedby the prescribed authority which is a Government of IndiaDepartment in terms of Rule 5(2). The Assessing Officer hasrightly pointed out that though the assessee has a foreigncollaboration agreement nothing is spent for acquisition of know-how. Admittedly know how is developed by an Indian Company.We therefore do not find any substantial question of law arisingfrom the appellate order. Consequently the appeal is dismissed. C.N.RAMACHANDRAN NAIR, JUDGE. C.K.ABDUL REHIM, JUDGE. okb