https://www.taxtmi.com/caselaws?id=18300 The High Court affirmed the Tribunal's decision allowing depreciation on amounts incurred for acquiring patents and drawings, citing technical know-how as depreciable assets. The classification of expenses on acquiring patents and drawings as capital expenditures was upheld, following the Supreme Court's precedent. Expenses on providing tea to customers were deemed deductible, in line with established business practices. Contrary to the Tribunal, the High Court ruled that payments to foreign collaborators were deductible as revenue expenditures, overturning the initial decision. The High Court did not award costs in this matter. en-us Thu, 25 Apr 1996 00:00:00 +0530 Wed, 30 Sep 2009 11:09:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18300 The High Court affirmed the Tribunal's decision allowing depreciation on amounts incurred for acquiring patents and drawings, citing technical know-how as depreciable assets. The classification of expenses on acquiring patents and drawings as capital expenditures was upheld, following the Supreme Court's precedent. Expenses on providing tea to customers were deemed deductible, in line with established business practices. Contrary to the Tribunal, the High Court ruled that payments to foreign collaborators were deductible as revenue expenditures, overturning the initial decision. The High Court did not award costs in this matter. Case-Laws Income Tax Thu, 25 Apr 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18300