https://www.taxtmi.com/caselaws?id=4511 The Tribunal rejected the Revenue's appeal, ruling in favor of the assessee. It held that the payments made for technical know-how were periodic and based on sales, not a lump sum under section 35AB. Following past allowances and the principle of res judicata, the Tribunal deemed the expenditure as revenue, not capital, in line with the Supreme Court precedent. Consequently, the Tribunal concluded that the payments qualified as allowable revenue expenditure under the Income-tax Act, 1961. en-us Thu, 18 May 2006 00:00:00 +0530 Sat, 26 Jul 2008 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4511 The Tribunal rejected the Revenue's appeal, ruling in favor of the assessee. It held that the payments made for technical know-how were periodic and based on sales, not a lump sum under section 35AB. Following past allowances and the principle of res judicata, the Tribunal deemed the expenditure as revenue, not capital, in line with the Supreme Court precedent. Consequently, the Tribunal concluded that the payments qualified as allowable revenue expenditure under the Income-tax Act, 1961. Case-Laws Income Tax Thu, 18 May 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4511