https://www.taxtmi.com/caselaws?id=221815 The High Court ruled in favor of the assessee, dismissing the tax appeals regarding the applicability of section 35AB of the Income Tax Act to expenditure incurred for acquiring technical know-how. The Court emphasized that section 35AB applies to capital expenditure, not revenue expenditure, and does not limit existing benefits for revenue expenditure on know-how acquisition. Therefore, the provision of section 35AB would not restrict deductions for revenue expenditure on technical know-how acquisition. en-us Tue, 10 Jul 2012 00:00:00 +0530 Mon, 01 Apr 2013 07:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221815 The High Court ruled in favor of the assessee, dismissing the tax appeals regarding the applicability of section 35AB of the Income Tax Act to expenditure incurred for acquiring technical know-how. The Court emphasized that section 35AB applies to capital expenditure, not revenue expenditure, and does not limit existing benefits for revenue expenditure on know-how acquisition. Therefore, the provision of section 35AB would not restrict deductions for revenue expenditure on technical know-how acquisition. Case-Laws Income Tax Tue, 10 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221815