https://www.taxtmi.com/caselaws?id=235571 Royalty paid as a percentage of sales for continuous use of technical know-how and related rights was treated as revenue expenditure, as a linked payment does not create an enduring capital advantage; the disallowance was deleted. Partial disallowance of employees' club, hotel, lodging and related credit-card expenses was sustained because the assessee failed to prove the full business nexus. For exempt dividend income, rule 8D was not applicable for the year, but expenditure attributable to such income still had to be disallowed on a reasonable basis, so the matter was restored for fresh determination after giving the assessee an opportunity. en-us Fri, 12 Jul 2013 00:00:00 +0530 Sat, 27 Jul 2013 08:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235571 Royalty paid as a percentage of sales for continuous use of technical know-how and related rights was treated as revenue expenditure, as a linked payment does not create an enduring capital advantage; the disallowance was deleted. Partial disallowance of employees' club, hotel, lodging and related credit-card expenses was sustained because the assessee failed to prove the full business nexus. For exempt dividend income, rule 8D was not applicable for the year, but expenditure attributable to such income still had to be disallowed on a reasonable basis, so the matter was restored for fresh determination after giving the assessee an opportunity. Case-Laws Income Tax Fri, 12 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235571