Relief to Bajaj Auto: ITAT allows Deduction u/S 80-O of Income Tax Act on Royalty fee received in nature of Drawing, Design, Invention, Patent and Trademark [Read Order]
ITAT provided relief to Bajaj Auto by allowing a deduction under Section 80-O of the Income Tax Act, 1961 for the royalty fee received, recognizing it as pertaining to drawing, design, invention, patent, and trademark
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) provided relief to Bajaj Auto by allowing a deduction under Section 80-O of the Income Tax Act, 1961 for the royalty fee received, recognizing it as pertaining to drawing, design, invention, patent, and trademark. The Assessee received a sum of Rs.38, 585/- as…
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