https://www.taxtmi.com/caselaws?id=379305 The High Court upheld the Tribunal's decision on both issues. Gains from canceling foreign exchange forward contracts were classified as capital receipts, impacting the cost of plant and machinery. Royalty expenses for technical know-how were disallowed due to timing issues, with the Court upholding the disallowance of expenses claimed in the wrong assessment year. The Court found the decisions aligned with tax laws and precedents, leading to the dismissal of the appeal. en-us Wed, 13 Mar 2019 00:00:00 +0530 Fri, 06 Sep 2019 10:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379305 The High Court upheld the Tribunal's decision on both issues. Gains from canceling foreign exchange forward contracts were classified as capital receipts, impacting the cost of plant and machinery. Royalty expenses for technical know-how were disallowed due to timing issues, with the Court upholding the disallowance of expenses claimed in the wrong assessment year. The Court found the decisions aligned with tax laws and precedents, leading to the dismissal of the appeal. Case-Laws Income Tax Wed, 13 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379305