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Technical know-how fee falling under category of royalty eligible for deduction u/s. 80-O
Case Law Details
- Case Name
- DCIT Vs Bajaj Holdings & Investment Ltd. (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 1998-99
- Courts
- All ITAT, ITAT Mumbai
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DCIT Vs Bajaj Holdings & Investment Ltd. (ITAT Mumbai)
ITAT Mumbai held that technical know-how fee received by the assessee falls under the category of royalty as defined in Section 80-O of the Income Tax Act and hence is eligible for deduction u/s. 80-O of the Income Tax Act, 1961.
Facts- The assessee contended that surplus received on redemption of treasury bills is taxable under the head ‘capital gain’. AO assessed the same under the head ‘income from other sources’.
Further, the assessee claimed the deduction u/s 80-O of the Act. The assessee claimed a deduction u/s 80-O of th...
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