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2006 (5) TMI 57 - HC - Income TaxSection 35AB is applicable only if payment are made in lump sum consideration for acquiring any know-how – but in impugned case, payment made is not lump sum payment, for acquiring of know-how; rather the same was payable periodically on the basis of percentage of invoiced price depending upon the number of engines manufactured – It is not a case of outright sale of technical know-how so, it will not fall within the domain of sec. 35AB – deduction allowed for royalty paid
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