https://www.taxtmi.com/caselaws?id=10011 The High Court upheld the Tribunal's decision that the royalty payment made by the assessee was a revenue expenditure, deductible under section 37 of the Income-tax Act. The Court agreed that the payment was for a limited period, dependent on production quantity, and did not result in acquiring any capital assets. Therefore, the royalty payment was treated as a revenue expenditure, allowing it as a deduction for the relevant assessment year. en-us Tue, 29 Mar 2005 00:00:00 +0530 Sat, 08 Jul 2023 09:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10011 The High Court upheld the Tribunal's decision that the royalty payment made by the assessee was a revenue expenditure, deductible under section 37 of the Income-tax Act. The Court agreed that the payment was for a limited period, dependent on production quantity, and did not result in acquiring any capital assets. Therefore, the royalty payment was treated as a revenue expenditure, allowing it as a deduction for the relevant assessment year. Case-Laws Income Tax Tue, 29 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10011