https://www.taxtmi.com/caselaws?id=18727 The court held that the royalty payments made by the assessee to Texmo Industries were revenue expenditures deductible under section 37(1) of the Income-tax Act, 1961. The Tribunal's decision was upheld, emphasizing that the payments were for the better conduct and improvement of the existing business, not resulting in the acquisition of a capital asset of enduring nature. The court relied on legal precedents to support its conclusion that such expenditures should be considered revenue expenditures. The court ruled in favor of the assessee, determining the payments as deductible revenue expenditures without awarding costs. en-us Fri, 14 Jul 1995 00:00:00 +0530 Sat, 31 Oct 2009 16:11:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18727 The court held that the royalty payments made by the assessee to Texmo Industries were revenue expenditures deductible under section 37(1) of the Income-tax Act, 1961. The Tribunal's decision was upheld, emphasizing that the payments were for the better conduct and improvement of the existing business, not resulting in the acquisition of a capital asset of enduring nature. The court relied on legal precedents to support its conclusion that such expenditures should be considered revenue expenditures. The court ruled in favor of the assessee, determining the payments as deductible revenue expenditures without awarding costs. Case-Laws Income Tax Fri, 14 Jul 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18727