1984 (7) TMI 105

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....id agreement, was a book, i.e., a plant within the meaning of s. 43(3) of the Act. It relied upon the decision of the Tribunal in ITA No. 17905 of 1966-67. Similar claims advanced by the assessee-company in the earlier years have been rejected by the Tribunal. The Tribunal considered the decision of the Tribunal relied upon by the assessee in the earlier years. I may add that the facts of the present case are materially different from the facts in the case relied upon it. It may be pointed out that the charges of Rs. 15,000 have been paid by the assessee-company for all the services agreed to be rendered by the foreign company under the agreement. It is not that Rs. 15,000 have been paid only for the secret and specialised designs, drawings....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... be said that the payment was only for the documents referred to in cl. 1, much less it can be said that the know-how was conveyed merely by conveying the documents. In the circumstances, I reject the assessee's claim. 3. The next point, which is also common for both the years, relates to the assessee's claim for a lower rate of tax on the ground that it was an industrial company as defined by s. 2(6)(c) of the Finance Acts of the relevant years. Similar claim advanced by the assessee company in the preceding years was rejected by the Tribunal and the Revenue has relied upon the decision of the Tribunal in ITA No. 1388 (Bom) of 1971-72 relating to the asst. yr. 1970-71. Mr. M. C. Mathur, ld. counsel for the assessee-company, submitted th....