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    Income Tax

    Once the RBI approval of royalty rate was obtained the payment...

    RBI-approved royalty payments deemed fair; TPO's decision to cap payments at 2% of net sales challenged.

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    Income TaxOctober 28, 2014Case LawsAT

    Once the RBI approval of royalty rate was obtained the payment was considered to be held at arm's-length - the TPO erred in holding that no tangible benefits were derived by the assessee out of royalty payments made by it and restricted the payment to 2% of net sales - AT

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