TMI Blog1993 (2) TMI 16X X X X Extracts X X X X X X X X Extracts X X X X ..... he Income-tax Act, 1961, made at the instance of the Revenue, the Income-tax Appellate Tribunal has referred the following question of law for opinion: "Whether, on the facts and in the circumstances of the case, and in law the Tribunal was justified in holding that the royalty payments to the three foreign concerns were not capital expenditure and in deleting the additions on that account ?" ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ign collaborators in the two years are as hereunder : In the accounting period relevant to the assessment year 1971-72: --------------------------------------------------------------------------------------------------------------------------------------------- Name of the Amount paid Payment under Amount foreign concern during agreement disallowed by the year dated the ITO. -------------- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessment year 1972-73: --------------------------------------------------------------------------------------------------------------------------------------------- Name of the Date of Paid Disallowed by foreign concern agreement the ITO --------------------------------------------------------------------------------------------------------------------------------------------- (1) (2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that in regard to Trutzschler and Co., the Income-tax Officer held 25 per cent. of the royalty payment as in the nature of revenue expenditure and the balance 75 per cent. as capital expenditure. In the case of the other two foreign concerns, the entire royalty payment was disallowed by him as capital expenditure. On a careful consideration of the facts of the case, we find that the payments ma ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
