https://www.taxtmi.com/caselaws?id=15233 The court held that the payment for technical know-how fee was revenue expenditure as it was for the betterment of an existing product. The excise duty paid on closing stock was deductible, and the written back excise duty liability was not taxable under section 41(1) as the liability had not ceased. The court declined to call for reference on the first and third issues but directed the Tribunal to refer the deduction of excise duty from the closing stock value for the court's opinion. en-us Tue, 14 Mar 2000 00:00:00 +0530 Mon, 03 Aug 2009 18:16:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15233 The court held that the payment for technical know-how fee was revenue expenditure as it was for the betterment of an existing product. The excise duty paid on closing stock was deductible, and the written back excise duty liability was not taxable under section 41(1) as the liability had not ceased. The court declined to call for reference on the first and third issues but directed the Tribunal to refer the deduction of excise duty from the closing stock value for the court's opinion. Case-Laws Income Tax Tue, 14 Mar 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15233