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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Clarification on Deductions for Technical Know-How Fees: No Section 80E/80-I Benefits if Not Linked to Priority Industry.</h1> The circular addresses the applicability of deductions under Sections 80E and 80-I of the Income Tax Act, 1961, concerning income from technical know-how provided to priority industries. It clarifies that if an assessee company receives fees for technical know-how from a person who does not actually manufacture the specified articles in a given year, such income cannot be considered attributable to a priority industry. Consequently, deductions under Sections 80E/80-I are not applicable. Assessing officers are instructed to adhere to this interpretation when evaluating such cases.
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