COMMISSIONER OF INCOME-TAX versus KHEMCHAND MOTILAL JAIN
References Business Expenses Capital or Revenue Expenses The amount paid for trademarks and goodwill, whether the expenditure is a question of law, was held by the Indian Income Tax Act, 1961, Sections 37 and 256, the question of whether, the facts and In the circumstances of the matter, the tribunal was right in saying that the company paid 22,91,728 and 22,66, the amount paid by the company to the co-owners and former firm's partners in exchange for trade marks and goodwill. The cost of taxation for a business that was using Rs 746 was a question of law which had to be sent to the High Court. A.
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