2002 (5) TMI 21

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....he Income-tax Act, 1961, seeking opinion of this court on the following question: "Whether, on the facts and in the circumstances of the case, the Income tax Appellate Tribunal was legally justified in: (i) holding that the royalty does not partake the character of 'tax', 'duty', 'cess' or 'fee' for the purpose of applicability of the provisions of section 43B of the Income-tax Act?" The ....

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....ce or goods. The Tribunal further held that the royalty is paid as consideration for goods or services supplied. The Tribunal accordingly allowed the appeal and directed the Assessing Officer to allow the liability in question for the assessment year under consideration. It is now no more res integra that the royalty is a tax and as such section 43B is applicable to unpaid liability towards paymen....