TaxTMI 
TaxTMI 
2017 (7) TMI 868
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....nt ORDER Per Court 1] The present appeal pertains to Assessment Year 2009-10. 2] Mr.Singh, the learned counsel for the Appellant submits that the Tribunal has committed an error in deleting the Royalty and License fees paid by the Assessee to its legal owner as a Revenue expenses without appreciating the totality of the facts. The same is capital in nature and not a revenue expenditure. The le....
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....ssee under the terms of the agreement entered into with M/s. Kirloskar Proprietary Limited, was an item of revenue expenditure incurred in the course of carrying on the business of the assessee, and thereby allowable u/s.37 of the I.T. Act." 3] According to the learned counsel, the agreement has been misread by the Commissioner (Appeals) and the Tribunal. The Assessing Officer has rightly consid....
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.... name. Further, assessee has also entered into a User Agreement with M/s. Kirloskar Proprietary Limited dated 24.11.2006 which was revised on 04.02.2008. In terms thereof the said concern, M/s. Kirloskar Proprietary Limited has admitted assessee as a member and assessee also agreed to maintain the quality and to comply with the specifications prescribed by the said concern. M/s. Kirloskar Propriet....
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....assessee which would be in the capital field. Infact, during the currency of the agreement with M/s. Kirloskar Propritary Limited, the benefit which accrues to the assessee is in the revenue field, namely, in the course of carrying on of its business operations and the expenditure incurred in connection thereof would be revenue in nature. Therefore, in our considered opinion, the CIT(A) made to mi....