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2012 (3) TMI 98 - HC - Income TaxCapital Gain-Whether lump-sum consideration is a capital receipt in the hands of the assessee company- held that:-the amounts were paid to the assessee on account of right to use the know how for a specified period and no outright transfer of know how amounts received thereunder would be nothing but royalty received Royalty -Whether the lump sum consideration was royalty within the meaning of Article-VII of the DTAA -held that:-"royalty" means any royalty or other like amount received as consideration for the right to use copyrights, artistic or scientific works, patents, models, designs, plans, secret processes or formulae, trademarks and other like property or rights -the amount received by the assessee was royalty covered under Article VII of the DTAA and therefore, taxable in India -Royalties derived by a resident of one of the territories from sources in the other territory may be taxed only in that other territory the questions raised were in favour of the revenue and against the assessee.
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