https://www.taxtmi.com/caselaws?id=20708 The Supreme Court set aside the Central Board of Direct Taxes' decision to decline approval of an agreement under section 80-O of the Income-tax Act, 1961, involving the provision of technical know-how and services. The Court found that the Board failed to properly assess the agreement's details and relevant provisions, leading to erroneous decisions. The Court directed the Board to reevaluate the application in accordance with Circular No. 253 dated April 30, 1979, and previous case law, emphasizing the importance of a comprehensive evaluation process to avoid errors in granting or denying exemptions under the Act. en-us Wed, 26 Aug 1992 00:00:00 +0530 Mon, 16 Nov 2009 17:07:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20708 The Supreme Court set aside the Central Board of Direct Taxes' decision to decline approval of an agreement under section 80-O of the Income-tax Act, 1961, involving the provision of technical know-how and services. The Court found that the Board failed to properly assess the agreement's details and relevant provisions, leading to erroneous decisions. The Court directed the Board to reevaluate the application in accordance with Circular No. 253 dated April 30, 1979, and previous case law, emphasizing the importance of a comprehensive evaluation process to avoid errors in granting or denying exemptions under the Act. Case-Laws Income Tax Wed, 26 Aug 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20708