1979 (2) TMI 29 - HC - Income Tax

Summary

The High Court of Delhi allowed the petition challenging the refusal of approval for agreements under section 80MM of the Income Tax Act. The court held that an Indian company can obtain technical know-how from a foreign company, and the reasons for refusal were irrelevant. The Board was directed to re-consider the application for approval. (Case citation: 1979 (2) TMI 29 - DELHI High Court)