Saturday, January 23, 2021

Royalty paid to acquire technical know-how to be used in manufacture is capital expenditure

INCOME TAX : Payment of royalty by assessee for obtaining right to use technical know-how for manufacture of a product under licence for more than 11 years, was a capital expenditure not allowable under section 37(1)

from www.taxmann.com Latest Case Laws https://ift.tt/3qHE4dK
-
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...