Is gain on technical know-how chargeable to tax as capital gain?

Last updated: 27 November 2021

Court :
High Court of Karnataka

Brief :
Is technical know how capital in nature under section 45?

Citation :
ITA /568/2015

IN THE HIGH COURT OF KARNATAKA AT BENG ALURU DATED THIS THE 4TH DAY OF OCTOBER, 2021 PRESENT THE HON'BLE MRS.JUSTICE S.SUJATHA AND THE HON'BLE MR. JUSTICE RAVI V. HOSMANI I.T.A.No.568/2015
BETWEEN : 1 . THE COMMISSIONER OF INCOME TAX, LTU, JSS TOWERS BSK III STAGE, EANGALORE-560 085
2 . THE ADDL. COMMISSIONER OF INCOME TAN, LTU, JSS TOWERS, BSK III STAGE BANGALORE-5% 085
(BY SRI K.V.ARAVIND, ADV.)
AND: M/ s ABB LTD., KHANIJA 13HAVAN RACE COURSE ROAD 2ND FLOOR, CAST WING BANGALORE-560 001 PAN:AAACA 3834B
APPELLANTS
RESPONDENT
(BY SRI T.SURYANARAYANA, ADV.)
THIS INCOME TAX APPEAL IS FILED UNDER SECTION 260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 14.05.2015 PASSED IN ITA NO.1281/BANG/2010, FOR THE ASSESSMENT YEAR 1997-1998 PRAYING TO I. FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW STATED ABOVE. II. ALLOW THE APPEAL AND SET ASIDE THE ORDERS PASSED