2016 (7) TMI 1639

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....ivas, JCIT. For the Respondent : Shri R. Sivaraman, Advocate. ORDER PER N.R.S. GANESAN, JUDICIAL MEMBER This appeal of the Revenue is directed against the order of the Commissioner of Income-tax (Appeals)-15, Chennai, dated 24.9.2015 and pertains to assessment year 2012-13. 2. The only issue arises for consideration is disallowance of royalty to the extent of Rs. 74,50,665/-. 3. Shri Shi....

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.... assessee. 4. On the contrary, Shri R. Sivaraman, ld. Counsel for the assessee submitted that Shriram Ownership Trust is an independent Trust and its logo was used by the assessee in its business. The payment was made for the purpose of using the logo on turnover basis, therefore, the CIT(A) has rightly allowed the claim of the assessee as revenue expenditure. 5. We have considered the rival s....