https://www.taxtmi.com/caselaws?id=5495 On construction of the agreement, the payment did not secure transfer of information, processes or inventions, and did not bring into existence any asset or enduring advantage. The expenditure was incurred in the course of business for running operations and earning profits, so it was revenue expenditure rather than capital expenditure. It was therefore rightly allowed as a deduction under section 37(1) of the Income-tax Act, 1961. en-us Wed, 29 Mar 1995 00:00:00 +0530 Tue, 25 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5495 On construction of the agreement, the payment did not secure transfer of information, processes or inventions, and did not bring into existence any asset or enduring advantage. The expenditure was incurred in the course of business for running operations and earning profits, so it was revenue expenditure rather than capital expenditure. It was therefore rightly allowed as a deduction under section 37(1) of the Income-tax Act, 1961. Case-Laws Income Tax Wed, 29 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5495