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2012 (12) TMI 90 - AT - Income TaxAddition on account of right to receive royalty fees – Held that:- Asseasee company entered into agreement with Dr. Syed Mohd. won Syed Hussein and Dr. Lourdenedin of Kaulalumpur on 28.8.7S. The company agreed to provide technical knowhow - assessee company has received total consideration of Rs.4.75,000/- for both the agreements which has been added to the value of the goodwill. This part of consideration is liable to be taxed as amount received in lieu of income - assessee did not produce any further evidence or material justifying their case for non-taxability of the amount in question – addition upheld
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