Court : Mumbai
..... not done, so far as intellectual property is concerned. it has, however, specifically so provided for shares (explanation 5, section 9(1)(i) of the income tax act, 1961.).therefore, where the legislature thought it necessary to make express provisions for intangible assets, it has done so. in this legislative vacuum, the internationally accepted principle ..... transaction between monsanto india and the third party with whom it deals is not, and cannot be, a sale assessable under the maharashtra value added tax act, 2002 ( the mvat act ). mr. venkatraman insists that the transaction in question involves no transfer of a chattel qua chattel; no transfer of the right to use; ..... apply to transactions after april 1st 2005; prior transactions were covered by the lease tax act and, therefore, attracted no tax. so even under the vat regime, no tax was paid on the trait fees. however, all amended agreements attracted vat. in order to determine the applicability of the supreme court judgment in the case .....
Tag this Judgment!