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Income Tax - Highlights / Catch Notes

Home Highlights March 2019 Year 2019 This

Disallowance of payments made for royalty and technical know-how ...

Income Tax

March 28, 2019

Disallowance of payments made for royalty and technical know-how received - Accepted Most appropriate method for benchmarking the manufacturing segment as TNNM - Different method (CUP method) for royalty and technical knowhow - it was not open to the TPO to subject only one element, i.e. payment of technical assistance fee, to an entirely different method (CUP)

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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. 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...

  3. 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...

  4. TDS u/s 194J - payment to distributors on revenue sharing basis - neither fee for professional or technical services nor royalty - TDS not deductible - no disallowance...

  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. 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

  7. Payment to overseas institution as fees for awarding the degrees, supplying books and course material – There is no transfer of any technical know-how or technical...

  8. Disallowance of depreciation on technical know-how - principle of consistency - the entire expenses directed to be treated as capital in nature and depreciation be...

  9. 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...

  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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