https://www.taxtmi.com/caselaws?id=260180 The court confirmed that the expenditure for acquiring technical knowhow was revenue in nature and not covered under Section 35AB of the Income Tax Act, 1961. It was held that the deductions under Section 37 were allowable for such revenue expenditures. The court upheld the earlier decision, ruling in favor of the assessees and dismissing the appeals. en-us Mon, 24 Nov 2014 00:00:00 +0530 Thu, 04 Jun 2015 08:22:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260180 The court confirmed that the expenditure for acquiring technical knowhow was revenue in nature and not covered under Section 35AB of the Income Tax Act, 1961. It was held that the deductions under Section 37 were allowable for such revenue expenditures. The court upheld the earlier decision, ruling in favor of the assessees and dismissing the appeals. Case-Laws Income Tax Mon, 24 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260180