High Court of Bombay at Goa Allows Tax Appeals of Assessee in Income Tax Matters — Disallowance of Expenditure on Technical Know-How and Interest on Delayed Payment of Sales Tax Set Aside. The court held that technical know-how fees for improvement of existing process is revenue expenditure and interest on delayed sales tax is compensatory, both allowable under Section 37(1) of the Income Tax Act, 1961.
30 Nov -0001The judgment pertains to a batch of tax appeals filed by Goa Carbon Ltd. against orders of the Income Tax Appellate Tribunal (ITAT) for various assess...
