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14.6.1) ADVANCE shall have a non exclusive right to continue to use the PRODUCT RANGE KNOW HOW In India communicated to ADVANCE before expiration and shall have the right to keep all document furnished to ADVANCE under the agreement and shall not pay any license fee thereof, provided however, that the PRODUCT RANGE KNOW HOE shall remain the legal and absolute property of CHEMTEC with the limitation set forth here above.
4.4] The assessee Company since its incorporation is in the business of manufacturing activity of producing Acid Slurry (LABSA) from LAB & Sulphur and Adjunct Powder from AOS (Paste). The ADVANCE is paying lumpsum payments and royalty payments separately. As may be noted from the clauses of the agreement cited above, the assessee is deriving enduring Page | 7 benefits by virtue of its agreement with Chemtech as explained hereunder:-