Disallowance of consultancy charges partly u/s. 40A(2) without determining market value not justified

HIGH COURT OF DELHI Commissioner of Income-tax versus Modi Revlon (P.) Ltd. IT APPEAL NOS. 1450, 1451, 1640 & 1652 OF 2010 & 825 OF 2011 CM APPL. NOS. 12275 & 12282 TO 12284 OF 2012 AUGUST 29, 2012 ORDER S. Ravindra Bhat, J. – The revenue appeals against order of the Income Tax Appellate Tribunal (ITAT) in ITA Nos. 5/Del/2009, 2063/Del/2009, 155/Del/2009 and 3083/Del/2009 dated 18-12-2009. 2. The following questions of law arise in the present appeals: (1)  Whether the ITAT erred in holding that royalty paid by the assessee could be capitalized only to the e...