Technical know-how fee falling under category of royalty eligible for deduction u/s. 80-O

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 s

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