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2016 (9) TMI 775

Head Note / Extract:
Valuation - Linkage between royalty paid for transfer of know-how and sale of capital goods - agreement for know-how licence and technical assistance agreement - sale and purchase agreement - holding-subsidiary relationship - is there any direct link between the two agreements linking the royalty paid to sale of capital goods? - Held that: - there is no direct link between the two agreements although both the agreements have executed on the same day. A perusal of both the agreements show that there is nothing to link the two agreements. Nowhere in the agreement it can be seen that there is any link between the two. Under these circumstances, it cannot be said that the sale and purchase agreement has been executed subject to the execution of know-how licence and technical assistance agreement. In these circumstances it cannot be said that the royalty paid for transfer of know-how is linked to the sale of capital goods.

The decision of the case Commissioner Of Customs Versus M/s. Essar Steel Ltd [2015 (4) TMI 486 - SUPREME COURT] would apply as the activities covered under the know-how agreement are of post importation activities.

Appeal allowed - decided in favor of appellant.


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