Relief to CRI Group: Royalty paid to Holding Company for Using Brand Name Deductible from Total Income, rules ITAT [Read Order]

CRI - Group - Royalty - Total - Income - ITAT - TAXSCAN

The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the amount of royalty paid to the Holding Company for using the brand name, being a revenue expenditure, shall be deductible under the Income Tax Act, 1961. The Assessing Officer, while processing the return of the assessee, M/s. CRI Pumps Pvt. Ltd, held that…

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