1979 (2) TMI 29

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... tioner, which is an Indian company, and Godrej Soaps Private Ltd., being another Indian company, were sent for approval by the petitioner to respondent No. 1 under s. 80MM of the I.T. Act. The approval was refused on the ground that the technical know-how passed on by the petitioner to Godrej as also technical services rendered by the petitioner to Godrej were, in fact, done by a foreign company t .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... between Indian companies. The services to be rendered are technical services rendered by the petitioner-company and the technical know-how is also by the petitioner Indian company to Godrej. All the requirements, therefore, satisfy s. 80MM. The reasons given for refusal to approve the agreements are irrelevant to s. 80MM. The order refusing the approval is, therefore, quashed and the Board is dir .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X