Thursday, November 29, 2018

Payment made to NR company to improve fuel efficiency of engine developed by 'TVS' was FTS not royalty

IT/ILT: Where assessee-company developed basic engine and sent same to a non-resident company of Austria to design a new 3-valve cylinder head for improvement of fuel efficiency, performance and meeting Indian emission standard, payment made to Austrian company would not constitute royalty

from www.taxmann.com Latest Case Laws https://ift.tt/2Qll1Yj
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