Section 32(1) not applicable If assessee is only permitted to use trade mark /brand name of foreign collaborator with certain conditions

IN THE ITAT CHENNAI BENCH ‘B’ Fenner (India) Ltd. versus Additional Commissioner of Income-tax IT APPEAL NOS. 722 & 1047 (MDS.) OF 2009 [ASSESSMENT YEAR 2005-06] APRIL 23, 2012 ORDER Challa Nagendra Prasad, Judicial Member   These cross appeals one by the assessee and the other by the Department are against the order of the CIT(A) I, Madurai dated 11.03.2009 in ITA No. 0075/2008-09 for the assessment year 2005-06. Shri Vikram Vijayaraghavan, Advocate represented on behalf of the assessee and Dr. S. Moharana, CIT – DR represented on behalf of the Revenue....