[aaykarbhavan] Sharing of license fee among affiliates entailing benefits to business operations of assessee was allowable

 

Sharing of license fee among affiliates entailing benefits to business operations of assessee was allowable

September 4, 2014[2014] 48 taxmann.com 57 (Madras)/[2013] 359 ITR 673 (Madras)

IT: Reopening was not justified where Assessing Officer had actually before him all relevant materials at time of original assessment itself

IT: Licence fee paid by assessee-company to its group resource company towards its share of cost incurred for availing of benefit of expertise developed by group resource company was allowable as business expenditure

IT: Interest on borrowed funds utilized for investment in group companies for strategic business purpose was allowable under section 36(1)(iii)

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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