https://www.taxtmi.com/caselaws?id=64861 The Tribunal ruled that the payment for technical know-how should be treated as revenue expenditure, allowing the assessee's deduction claim under Section 37(1) of the Income Tax Act for AY 2000-01 and setting aside the CIT(A)'s order for AY 2001-02. Regarding the disallowance of PF payments under Section 43B, the Tribunal instructed the AO to verify the payment timing, allowing the deduction if the payment was made by cheque within the grace period. The Revenue's appeal was dismissed, and the assessee's appeal was partly allowed for statistical purposes, pending verification. en-us Fri, 29 Feb 2008 00:00:00 +0530 Thu, 28 Dec 2023 13:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64861 The Tribunal ruled that the payment for technical know-how should be treated as revenue expenditure, allowing the assessee's deduction claim under Section 37(1) of the Income Tax Act for AY 2000-01 and setting aside the CIT(A)'s order for AY 2001-02. Regarding the disallowance of PF payments under Section 43B, the Tribunal instructed the AO to verify the payment timing, allowing the deduction if the payment was made by cheque within the grace period. The Revenue's appeal was dismissed, and the assessee's appeal was partly allowed for statistical purposes, pending verification. Case-Laws Income Tax Fri, 29 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64861