JUDGMENT

N.K. AGRAWAL, J.---
The Commissioner of Income-tax has, by this petition under section 256(2) of the Income Tax Act, 1961 (for short, "the Act"), sought a direction to the Income-tax Appellate Tribunal, Delhi (for short, the "Tribunal"), to refer the following question of law, relating to the assessment year 1984-85, to this Court for opinion:"Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law in confirming the order of the Commissioner of Income-tax (Appeals) in directing to allow depreciation on technical know-how as these are not fixed assets?"Escorts Employees Ancillaries Ltd., Faridabad (hereafter called the "assessee"), was engaged in the business of manufacture and sale of carburettors, fuel cocks, swaged spokes, nipples, etc. At the time of assessment the Assessing Officer did not allow depreciation on the amount of Rs.3,76,932 spent by the assessee on acquiring technical know-how on the ground that no tangible asset ...