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Income Tax - Highlights / Catch Notes

Home Highlights January 2017 Year 2017 This

Amount paid towards Technical know-how and Royalty - ITAT ...

Income Tax

January 13, 2017

Amount paid towards Technical know-how and Royalty - ITAT adopted the superficial approach - both the payments to foreign company are in respect of a benefit which is not only of enduring nature but for the purpose of acquiring of an asset and hence a 'Capital Expenditure' and not 'Revenue Expenditure' - HC

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  1. Royalty & lump sum fee – The payment of lump sum fees for the technical know-how and the royalty is allowable as revenue expenditure - AT

  2. Stay - demand of service tax - Technical Know-how - Salary paid to Foreign Employees - Man-power Supply Agency 66A - stay granted partly. - AT

  3. Disallowance of expenditure as capital expenditure being 25% of royalty amount paid - it cannot be said that the Sweden Company had relinquished its command over the...

  4. Nature of expenditure - amount paid as fee for user of know-how - capital expenditure or revenue expenditure - where an assessee who is engaged in the business of...

  5. Transfer of technical know-how – Royalty - Commissioner is right in coming to the conclusion that the services rendered does not merit classification under Consulting...

  6. Disallowance u/s 40(a)(i) - Payments made for technical know-how which had been capitalized, no TDS has been deducted thereon - no reason to disallow depreciation on...

  7. Valuation - the amount paid for technical know-how fee and the royalty charges are not to be included in the assessable value of the imported goods, if such payment is...

  8. Disallowance of royalty - capital OR revenue expenditure - The ownership/ proprietary rights in the technical know-how continue to vest in lithe censor and the assessee...

  9. Disallowance of payments made for royalty and technical know-how received - Accepted Most appropriate method for benchmarking the manufacturing segment as TNNM -...

  10. Taxability of amount received on transfer of technical know-how and marketing know-how – there was no cessation of source of income - taxable as revenue receipt - AT

 

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