| Citation(s) |
|---|
| 1999 SLG 461 1999 SLD 461 1999 PTD 3162 (1999) 236 ITR 314 |
Supreme Court of India
C. A. Nos.4912 of 1992 with 240 to 242 of 1986, decision dated: 3rd September, 1997
SUHAS C. SEN AND S. SAGHIR AHMAD, JJ
Ranbir Chandra, B. K. Prasad, Nagpal and P. Parmeshwaran, Advocates for Appellant. Ms. Janaki Ramachandran, Advocate for
Respondent
C. A. Nos.4912 of 1992 with 240 to 242 of 1986, decision dated: 3rd September, 1997
SUHAS C. SEN AND S. SAGHIR AHMAD, JJ
Ranbir Chandra, B. K. Prasad, Nagpal and P. Parmeshwaran, Advocates for Appellant. Ms. Janaki Ramachandran, Advocate for
Respondent
COMMISSIONER OF IncomE tax
VS
WAVIN (INDIA) LTD
Law: Income Tax Act, 1961
Section: 37
Income-tax-----Capital or revenue expenditure---Know-how---Collaboration agreement with foreign company---Research by foreign company relating to articles produced by assessee---Assessee contributing to cost of research ---Assessee was merely given a non-exclusive and non-transferable right of user of technical information---Amount paid was deductible---Indian Income Tax Act, 1961, S.37: Held, that, in the instant case, the expenditure was incurred to obtain benefit of research and development made by the foreign company. The technical information given to the Indian company was "non-exclusive" and "non-transferable". In other words, this was not an out and out sale of technical know-how. The assessee was merely given a non-exclusive and non-transferable right of user of the technical information. The expenditure was deductible. CIT v. Wavin India Ltd. (1983) 143 ITR 281…
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