https://www.taxtmi.com/caselaws?id=203615 The High Court held that certain liabilities written back to the profit and loss account were not taxable under Section 41(1) of the Income Tax Act as the revenue did not challenge the finding that these liabilities were not ceased. The Court remanded the issue of deduction for capital expenditure on scientific research for further examination in light of the relevant provisions. The Court upheld the treatment of expenditure on food and beverages to employees in a guest house and directed a more realistic allocation of payments to a foreign collaborator for technical know-how by the Tribunal. en-us Fri, 27 May 2011 00:00:00 +0530 Thu, 09 Jun 2011 08:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203615 The High Court held that certain liabilities written back to the profit and loss account were not taxable under Section 41(1) of the Income Tax Act as the revenue did not challenge the finding that these liabilities were not ceased. The Court remanded the issue of deduction for capital expenditure on scientific research for further examination in light of the relevant provisions. The Court upheld the treatment of expenditure on food and beverages to employees in a guest house and directed a more realistic allocation of payments to a foreign collaborator for technical know-how by the Tribunal. Case-Laws Income Tax Fri, 27 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203615