https://www.taxtmi.com/caselaws?id=18332 The High Court set aside previous decisions and remitted the case to the assessing authority for a fresh determination on whether payments made for royalty constituted revenue or capital expenditure. The court emphasized the importance of distinguishing between revenue and capital expenditure based on enduring benefits and profit acquisition, highlighting the need for proper application of legal principles in such assessments. The High Court directed reassessment by the assessing authority to ensure a correct classification of the expenditure. en-us Tue, 20 Feb 1996 00:00:00 +0530 Wed, 30 Sep 2009 12:24:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18332 The High Court set aside previous decisions and remitted the case to the assessing authority for a fresh determination on whether payments made for royalty constituted revenue or capital expenditure. The court emphasized the importance of distinguishing between revenue and capital expenditure based on enduring benefits and profit acquisition, highlighting the need for proper application of legal principles in such assessments. The High Court directed reassessment by the assessing authority to ensure a correct classification of the expenditure. Case-Laws Income Tax Tue, 20 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18332