1998 (11) TMI 67 - HC - Income Tax

Summary

The High Court of Madras ruled in favor of the assessee, stating that the collaboration agreement fell under section 115A(1)(ii) of the Income-tax Act, 1961, and not under section 115A(1)(iii). The payment made was for the transfer of technical know-how as contained in drawings and documentation, not for technical services. The assessee was awarded costs of Rs. 2,000.