Bombay High Court Dismisses Revenue Appeal on Technical Know-how Fees and Duty Free Advance Licence Issues. Technical know-how fees paid under non-exclusive licence for limited period held revenue expenditure; Duty Free Advance Licence not real income under Section 28(iv) of Income Tax Act, 1961....
The appeal by the Revenue challenged the order of the Income Tax Appellate Tribunal regarding assessment year 1999-2000. The assessee, M/s Essel Propack Limited, had entered into a non-exclusive licen...




