https://www.taxtmi.com/caselaws?id=66053 The Tribunal dismissed the revenue's appeals, holding that the expenditure incurred by the assessee for acquiring technical know-how was revenue in nature. The Tribunal emphasized that the payments were made for the purpose of carrying on the business of manufacturing machines, not for acquiring a capital asset. The Tribunal relied on several judicial precedents, including decisions from various High Courts and the Supreme Court, concluding that the payments made by the assessee for acquiring technical know-how were integral to its profit-making process and should be treated as revenue expenditures. en-us Fri, 22 Mar 1991 00:00:00 +0530 Mon, 21 Feb 2011 11:24:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66053 The Tribunal dismissed the revenue's appeals, holding that the expenditure incurred by the assessee for acquiring technical know-how was revenue in nature. The Tribunal emphasized that the payments were made for the purpose of carrying on the business of manufacturing machines, not for acquiring a capital asset. The Tribunal relied on several judicial precedents, including decisions from various High Courts and the Supreme Court, concluding that the payments made by the assessee for acquiring technical know-how were integral to its profit-making process and should be treated as revenue expenditures. Case-Laws Income Tax Fri, 22 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66053