The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the amount paid as professional fee for the purpose of valuation of know-how is a deduction allowable under section 37 of the Income Tax Act, 1961. The assessee-Company made payment of `7,50,000/- towards professional fees to M/s. M. N. Dastur & Co. […]
The post Professional Fee paid for Valuation of Know-How is allowable as Deduction: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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