Court Rules Royalty Payments to Director Are Legitimate Business Expenses, Not Tax Evasion Scheme, Due to Licensing Agreement.

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....Genuineness of royalty paid to the Director - colorable devise to reduce the tax liability or not - It has been held in the present case that the assessee company did not own the copyright. It was only granted a license to use the same - the payment of royalty for the same is nothing unusual - HC....