https://www.taxtmi.com/caselaws?id=214921 The High Court ruled that the expenditure on technical know-how was deductible under Section 37 as revenue expenditure, despite the presence of Section 35AB covering such payments. The court emphasized that if the expenditure is for conducting business activities and part of the profit-making process, it qualifies as revenue expenditure. The court highlighted a case where expenditure on technical collaboration was considered revenue expenditure due to its role in enhancing business efficiency and profitability. The court dismissed the tax case appeal, confirming the Tribunal's decision, and ruled that Section 35AB did not apply in this case. en-us Fri, 08 Jun 2012 00:00:00 +0530 Sat, 14 Jul 2012 14:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214921 The High Court ruled that the expenditure on technical know-how was deductible under Section 37 as revenue expenditure, despite the presence of Section 35AB covering such payments. The court emphasized that if the expenditure is for conducting business activities and part of the profit-making process, it qualifies as revenue expenditure. The court highlighted a case where expenditure on technical collaboration was considered revenue expenditure due to its role in enhancing business efficiency and profitability. The court dismissed the tax case appeal, confirming the Tribunal's decision, and ruled that Section 35AB did not apply in this case. Case-Laws Income Tax Fri, 08 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214921