Revenue not authorized to rewrite terms of agreement & adjudge Commercial expediency: SC

Brief of the Case Supreme Court held In the case of M/s. Mangalore Ganesh Beedi Works vs. CIT, that High Court was not justified in upsetting a finding of fact arrived at by the Tribunal, particularly in the absence of a substantial question of law being framed in this regard. Therefore, we set aside the conclusion arrived at by the High Court on this question. Further there can be no doubt that for the purposes of a large business, control over intellectual property rights such as brand name, trademark etc. are absolutely necessary. Moreover, the acquisition of such rights and know-how is acq...