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Judgment Search Results Home > Cases Phrase: patents Court: income tax appellate tribunal itat chennai Page 1 of about 13 results (0.070 seconds)

Jun 30 2006 (TRI)

Deputy Commissioner of Income Tax Vs. Indian Syntans Investments (P)

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2007)103ITD457(Chennai)

..... goodwill and the multinational company, i.e., bayer ag had no necessity to buy goodwill from the assessee. there is a clear distinction drawn between goodwill and trademarks, know-how, patents, copyrights, licenses, etc. it is therefore concluded that the position in law completely changed from the asst. yr. 1998-99 onwards and that the amendments to section 55(2) clearly ..... a consideration for the grant, the assessee was to pay 5 per cent royalty on the net selling price of all laminated products made and sold in accordance with those patented processes. when the total of the royalty payments reached 5,000, the assessee was no more liable to pay the royalty. the supreme court held that the payments made by ..... , would be of any help to the revenue on the facts of the present case. this court, the assessee entered into an agreement with an english company to use some patented process of manufacture. by that agreement, the english company granted to the assessee an exclusive non-assignable licence to manufacture laminates, in accordance with the processes covered by the .....

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Oct 30 2001 (TRI)

The Income Tax Officer, T.D.S. - Vs. Raj Television Network Ltd.,

Court : Income Tax Appellate Tribunal ITAT Chennai

..... of a literary, artistic or scientific work, including cinematography films or work on films, tape or other mens of reproduction for use in connection with radio or television broadcasting, any patent, trademark, design, or model, plan, secret formula or process, or for information concerning industrial, commercial or scientific experience; and (b) payments of any kind received as consideration for the use ..... dictionary, "royalty" was defined, inter alia as (a) payment by lessee to the owner of the land for privilege of working mine; (b) the amount paid to a patents for the use of his patent; (c) payment made to author for books, etc., sold. = as per chambers english dictionary, cambridge u.k., 'royalty' - has been defined as a payment made to oil ..... the income of the recipient chargeable under the head 'capital gains' for: i) the transfer of all or any rights (including the granting of a licence) in respect of a patent, invention, model, design, secret formula or process or trade mark or similar property; ii) the imparting of the any information concerning the working of, or the use of ..... foreign company for design and engineering equipment. amounts paid to foreign company under contract not "royalties". contract did not refer to any patent owned by supplier which the buyer was permitted to exploit. no transfer or licence of any patent, invention, model or design. no accrual of income to foreign supplier in india." "the term "royalty" normally cannotes the payment made by .....

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Nov 17 2006 (TRI)

Rane Brake Linings Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2007)107TTJ(Chennai)475

..... that the learned cit(a) has correctly confirmed the disallowance of depreciation. section 32 of the it act, 1961 which deals with allowance of depreciation reads as under: (ii) know-how, patents, copyrights, trademarks, licences, franchises or any other business or commercial rights of similar nature, being intangible assets acquired on or after the 1st day of april, 1998; owned, wholly or .....

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Feb 28 2007 (TRI)

Frontier Offshore Exploration Vs. the Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Chennai

..... true that in some cases, a trading receipt may contain a fraction of the sum as taxable income, but in other cases such as interest, commission, transfer of rights of patents, goodwill or drawings for plant and machinery and such other transactions, it may contain a large sum as taxable income under the provisions of the act. whatever may be the .....

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Nov 23 2007 (TRI)

Shri. C.V. Sunny, Prop. Pavizham Vs. the Asst. Commissioner of

Court : Income Tax Appellate Tribunal ITAT Chennai

..... a serious invasion on the rights of subjects and which is perhaps the last weapon in the arsenal of the department were found which could be attributed to any such patently hypothetical receipts. in view of this we are unable to concur with the department to the multiplication formulae adopted by the assessing officer.40. in view of the above discussions ..... a serious invasion on the rights of subjects and which is perhaps the last weapon in the arsenal of the department, were found, which could be attributed to any such patently hypothetical receipts. in view of this we are unable to concur with the department to the multiplication formula adopted by the learned ao.41. we make it clear that there ..... a serious invasion on the rights of subjects and which is perhaps the last weapon in the arsenal of the department were found which could be attributed to any such patently hypothetical receipts. in view of this we are unable to concur with the department to the multiplication formulae adopted by the assessing officer.22. to sum up, ld a.r .....

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Sep 15 2004 (TRI)

Subuthi Finance Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2005)96TTJ(Chennai)473

..... finding that he does not want to decide the issue on merits and there is no mistake apparent from the record which is an obvious and patent mistake, which can be decided in the rectification proceedings under section 154 of the act. aggrieved, the assessee preferred an appeal before the cit ..... the tribunal, bangalore bench, and various other benches have held that surcharge would not be leviable in a block assessment order. this is a patent error which ought to have been addressed under section 154 by the assessing authority. (d) the git(a), therefore, erred in confirming that the ..... the statute bear the petitioner out on the fact that no estimate can be made in a block assessment. the estimate disallowed is, therefore, a patent error which ought to have been corrected under section 154. (iii) the levy of surcharge in the block assessment order has been sustained even though ..... the cit(a) ought to have seen that the rectification application filed by the petitioner and dismissed by the ao contained the following issues which were clearly patent errors which ought to have been corrected under section 154 : (i) depreciation had been claimed by the assessee. while disallowing the same, however, the ..... rejected by the asstt.cit, company circle, chennai, by giving the reasons that there is no mistake apparent from record, which is obvious and patent, and he further reasoned that, "suffice it to say that this is not one which can be termed as a mistake apparent from records". aggrieved .....

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May 19 2005 (TRI)

Sri V. Elengovan, Prop. Snqs Vs. the Dy. C.i.T., Special Inv.

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2006)280ITR86(Chennai)

..... royalty, commission, fees or similar payment received by the assessee from the government of a foreign state or a foreign enterprise in consideration of the use outside india of any patent, invention, model, design, secret formula or process or similar property right, or information concerning industrial, commercial, or scientific knowledge, experience or skill made available or provided or agreed to be ..... , deduction under section 80-o will be available if gross total income of: (ii) includes any income by way of royalty or commission, fee or similar payments (v) of any patent, invention, model, design, secret formula or process or similar property right, or information concerning industrial, commercial, or scientific knowledge, experience or skill etc. and the income is received in india ..... .9. from a plain reading of the provisions of section 80-o, it is clear that income received in convertible foreign exchange should have nexus with services rendered concerning any patent, invention, model design, industrial/commercial information etc. to a foreign enterprise or government of foreign state and such information is used by such foreign party outside/from india. in the .....

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Jan 17 2006 (TRI)

Lakshmi Auto Components Ltd. Vs. the Dy. Commissioner of I.T.,

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2008)303ITR29(Chennai)

..... making scrutiny of assessment after issuing notice under section 143(2) of the act the assessing officer can pass an order under section 143(3) of the act if any patent and obvious mistake is left in the assessment order under section 143(3) and the material is available on record then the rectification under section 154 of the act is .....

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Oct 13 2006 (TRI)

Ontrack Systems Ltd. Vs. the Asst. Commissioner of I.T.

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2007)108ITD279(Chennai)

..... exchange. this is an incentive given for encouraging research and development activity in india. what is essential is to have appropriate right over such patent invention, design, registered trade mark etc, it is a fact that the asessee is not the owner of the website but it is done on ..... includes [any income received by the assessee from the government of a foreign state or foreign enterprise in consideration for the use outside india of any patent, invention, design or registered trade mark] [and such income is received in convertible foreign exchange in india, or having been received in convertible foreign exchange ..... id. counsel for the assessee argued that the assessee is engaged in the business of computer maintenance and services and deduction is allowable in respect of patent, design, invention and registered trade mark as prescribed under section 80-o of the act. the id. counsel for the assessee has drawn our attention ..... respect of royalties etc., received from certain foreign enterprises are allowed as deduction if it is earned on account of designing, patent or trade mark. this indicates that what is contemplated for deduction is royalties received or similar payments in that nature for use of any ..... patent, technical know-how and trade mark, invention, design by any foreign enterprise or person and its uses abroad they earning roreign .....

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Apr 06 2006 (TRI)

Joint Commissioner of Income-tax Vs. Investment Trust of India Ltd.

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2007)288ITR106(Chennai)

..... of t.s. balaram, ito v. volkart bros.. in this case the hon'ble supreme court has held that a mistake apparent on the record must be an obvious and patent mistake and not something which can be established by a long-drawn process of reasoning on points on which there may be conceivably two opinions. a decision on a debatable .....

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