Technical know-how fee received by Bajaj Auto ltd. fall under category of Royalty and is eligible for deduction u/s 80-O of Income Tax Act: ITAT [Read Order]

Technical -fee - Bajaj -Auto -ltd- Royalty - eligible - deduction - Income- Tax- Act-ITAT-TAXSCAN

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the technical know-how fee received by Bajaj Auto Ltd. falls under the category of royalty and hence is eligible for deduction under Section 80-O of the Income Tax Act, 1961. The assessee has entered into a Technical know-how agreement with M/s Autotecnicia Columbiana,…

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