9911796707
TMI Blog2008 (1) TMI 632X X X X Extracts X X X X X X X X Extracts X X X X ..... as much as the Intellectual Property Right transferred by assessee for consideration was not in respect of Trade Mark registered under the law - Held that: - though the company was having a registered Trade Mark in respect of 'Shoes' such a Trade Mark was transferred to the manufacture of Foam to a third party - It was contended that what was contemplated under Section 65 (55a) was only with rega ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct, 1994 is wrong in as much as the so-called Intellectual Property Right transferred by them for consideration was not in respect of Trade Mark registered under the law. Definition of Intellectual Property Right as given under Section 65 (55a) of the Finance Act, 1994 is as follows :- "(55a) 'Intellectual property right' means any right to intangible property, namely, trade marks, designs, paten ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is a broad definition which includes not only the Trade Marks which are registered under the law but also those Trade Marks which are not registered under the law but are recognized under the law. It was contended by the Authorized Representative of the Department that though it is a fact that the Trade Mark was originally got registered in respect of Motor Cycles and their parts but as the same g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gment in the case of Ruston & Hornsby Ltd. v. The Zamindara Engineering Co. reported in 1969 (2) Supreme Court Cases 727 (From Allahabad), which has made a distinction between one Trade Mark and the other. In the revenue side, the learned Authorized Representative of the revenue relies much upon the case law relating to Bata India Limited v. Pyarelal Co., Meerut City and Others reported in AIR 198 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it for waiver of demand made under the impugned order. We, therefore, direct the applicant to deposit 50% of the tax raised under the impugned order within eight weeks from today failing which the Stay application shall stand dismissed. On depositing the said amount, the remaining amount of tax and penalty demanding under the impugned order shall stand waived. Compliance on 31st March, 2008. (Dic ..... X X X X Extracts X X X X X X X X Extracts X X X X
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