https://www.taxtmi.com/article/detailed?id=7184 Royalty paid to State Governments calculated on the international (pre discount) well head price, when made pursuant to Central Government resolutions, notifications and communications preserving State revenue, qualifies as an allowable business expenditure and is not rendered illegal or disallowable under the Explanation to section 37. Concurrent factual findings by the CIT(A) and ITAT that the payments followed Government policy were upheld by the High Court and the Supreme Court, which dismissed revenue appeals for lack of valid legal grounds. en-us Fri, 06 Jan 2017 13:24:08 +0530 Fri, 06 Jan 2017 13:24:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7184 Royalty paid to State Governments calculated on the international (pre discount) well head price, when made pursuant to Central Government resolutions, notifications and communications preserving State revenue, qualifies as an allowable business expenditure and is not rendered illegal or disallowable under the Explanation to section 37. Concurrent factual findings by the CIT(A) and ITAT that the payments followed Government policy were upheld by the High Court and the Supreme Court, which dismissed revenue appeals for lack of valid legal grounds. Articles Income Tax Fri, 06 Jan 2017 13:24:08 +0530 https://www.taxtmi.com/article/detailed?id=7184