https://www.taxtmi.com/caselaws?id=9920 The High Court ruled in favor of the appellant concerning the disallowance of a royalty claim, finding the transaction genuine and entitling the appellant to the claimed 5% royalty. However, the court upheld the authorities' decision on the addition made in closing stock, stating no acceptable evidence disputed the bank statement. The judgment partially allowed the appeal, with each party bearing its own costs, addressing the appellant's questions on royalty payment and stock treatment while reserving liberty for further grievances in accordance with the law. en-us Tue, 30 May 2006 00:00:00 +0530 Fri, 03 Jul 2009 10:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9920 The High Court ruled in favor of the appellant concerning the disallowance of a royalty claim, finding the transaction genuine and entitling the appellant to the claimed 5% royalty. However, the court upheld the authorities' decision on the addition made in closing stock, stating no acceptable evidence disputed the bank statement. The judgment partially allowed the appeal, with each party bearing its own costs, addressing the appellant's questions on royalty payment and stock treatment while reserving liberty for further grievances in accordance with the law. Case-Laws Income Tax Tue, 30 May 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9920