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2015 (9) TMI 445 - AT - Income TaxPayment of logo charges - revenue v/s capital expenditure - Held that:- Tribunal in assessee's own case for the assessment years 2002-03 to 2007-08 [2012 (10) TMI 1001 - ITAT CHENNAI] decided the issue in favour of the assessee wherein held title of the 'logo' in question has not passed over to the assessee. Further, there is no acquisition of assets or part of any capital asset. Usage of logo by the assessee is only for displaying it on the product manufactured i.e. rubber contraceptives. That too, for a limited period as provided in the agreement in lieu of payment @ 2% of the gross sales. Thus we hold the instant 'logo' charges are also revenue expenditure within the meaning of Sec.37 of the Act in the nature of wholly and exclusively for the purpose of assessee's business - Decided in favour of assessee. Payment of royalty for technical know-how - revenue v/s capital expenditure - Held that:- By following the decision of the Tribunal in assessee's own case for the assessment years 2002-03 to 2007-08 decided the issue in favour of the assessee, wherein, the Tribunal has observed the payment made by the assessee in the shape of technical know-how fee by way of royalty @ 2% of the gross sales is Revenue expenditure - Decided in favour of assessee.
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