TaxTMI 
TaxTMI 
2010 (10) TMI 122
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....nsideration the Company has paid a sum of Rs.60,00,000/- as fixed royalty and further 8% royalty on the turnover to its Managing Director Sri Mahesh Chand Gupta. A sum of Rs.60,00,000/- has been disallowed by the assessing authority on the ground that it was the expenditure relating to the earlier years and not for the year under consideration and, further 8% royalty has been disallowed on the gro....