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Income Tax - Highlights / Catch Notes

Home Highlights June 2012 Year 2012 This

Royalty payment - in the nature of expenditure incurred for ...

Income Tax

June 27, 2012

Royalty payment - in the nature of expenditure incurred for carrying on business with available know-how - revenue expenditure - HC

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  1. Royalty payment - revenue expenditure or capital expenditure - payment is purely revenue in nature, as they provide for payment of license fee for manufacture and sale...

  2. The expenditure incurred by the assessee towards royalty and fee for technical assistance in pursuance of the licence agreement were revenue expenditure and not capital...

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

  4. Nature of expenses – Capital OR Revenue – GPA registration charges - The entire expenditure is completely revenue in nature since it is incurred for carrying out the...

  5. Royalty payment to FCC Co. Ltd., Japan - revenue or capital expenditure - Either having 50% control or 100% control that will not change the colour of nature of...

  6. Nature of franchise expenses – it was not an expenditure incurred for acquisition of source of profit, but enabled the assessee to run the business profitably - held as...

  7. Royalty payment as 3% of the net ex-factory sale by the licensee/assessee - the expenditure has to be treated revenue in nature - HC

  8. 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...

  9. Capital expenditure or revenue expenditure - the expenditure incurred in regaining this profit company unit is in the nature of a capital expenditure and not the revenue...

  10. Nature of expenses on Technical know-how fee - such technical know-how was used for the purpose of manufacturing the existing items - held as revenue expenditure - HC

 

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