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Income Tax - Highlights / Catch Notes

Home Highlights July 2012 Year 2012 This

Royalty payment as 3% of the net ex-factory sale by the ...

Income Tax

July 31, 2012

Royalty payment as 3% of the net ex-factory sale by the licensee/assessee - the expenditure has to be treated revenue in nature - 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. Royalty Benchmarking - assessee had adopted TNMM at the entity level in which process royalty payment is considered as closely linked transaction and part of operating...

  3. 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...

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

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

  6. Refund of excess payment of duty - Sale of goods through depot - Valuation - The duty is payable in accordance with the Section 4 of Central Excise Valuation Rules ,...

  7. TDS - Sale of pre-packaged software - What the licensee has acquired is only a copy of the copyright article whereas the copyright remains with the owner and the...

  8. 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...

  9. Disallowance of royalty expenses - allowable revenue expenses - It is only in Assessment Year 2005-06, the said payment of royalty has not been allowed in the hands of...

  10. Nature of expenses - payment of royalty - acquisition of intangible asset - the appellate authorities, while deleting the disallowances made by the assessing officer,...

 

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