https://www.taxtmi.com/caselaws?id=76776 The High Court of Bombay upheld the decisions of the lower authorities, dismissing the Revenue's appeal. It emphasized the temporary and non-absolute nature of the rights acquired under the agreement, allowing the technical know-how fees as revenue expenditure. The Court rejected the claim concerning the Duty Free Advance license, as it found no real income accrued to the assessee during the relevant assessment year. en-us Mon, 22 Mar 2010 00:00:00 +0530 Mon, 31 Dec 2012 14:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76776 The High Court of Bombay upheld the decisions of the lower authorities, dismissing the Revenue's appeal. It emphasized the temporary and non-absolute nature of the rights acquired under the agreement, allowing the technical know-how fees as revenue expenditure. The Court rejected the claim concerning the Duty Free Advance license, as it found no real income accrued to the assessee during the relevant assessment year. Case-Laws Income Tax Mon, 22 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76776