https://www.taxtmi.com/caselaws?id=181814 The High Court ruled in favor of the assessee for questions 2 and 3, allowing the deduction of royalty liability and determining the non-taxability of book credit representing royalty receivable. However, for question 1, the court sided with the revenue, denying the allowability of legal expenses as revenue expenditure. No costs were awarded in this judgment. en-us Tue, 14 Feb 1989 00:00:00 +0530 Mon, 25 Apr 2016 16:46:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181814 The High Court ruled in favor of the assessee for questions 2 and 3, allowing the deduction of royalty liability and determining the non-taxability of book credit representing royalty receivable. However, for question 1, the court sided with the revenue, denying the allowability of legal expenses as revenue expenditure. No costs were awarded in this judgment. Case-Laws Income Tax Tue, 14 Feb 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181814