Subscribe To Our Free Newsletter:

FGP Ltd vs. CIT (Bombay High Court)

COURT:
CORAM:
SECTION(S):
GENRE:
CATCH WORDS:
COUNSEL:
DATE: (Date of pronouncement)
DATE: October 17, 2008 (Date of publication)
AY:
FILE:
CITATION:

Though the assessee was following the mercantile system and was entitled to royalty under an agreement, the royalty was not assessable in accordance with the principles of real income, in view of the dispute pending in arbitration.