Valuation fees for know-how u/s 37(1) of Income Tax Act are revenue expenditure, not asset creation.

Valuation fees for know-how u/s 37(1) of Income Tax Act are revenue expenditure, not asset creation. https://www.taxtmi.com/highlights?id=48468 Addition towards professional fees for valuation of know-how u/s 37(1) - the expenditure is not incurred for the acquisition of know-how; it is incurred only for the purpose of valuation of the know-how and same in isolation has not created any asset nor has it added any value in the know-how of the assessee - expenditure is in the revenue field and allowable u/s 37(1) en-us Wed, 07 Aug 2019 09:23:01 +0530 Wed, 07 Aug 2019 09:23:01 +0530 TaxTMI RSS Generator Valuation fees for know-how u/s 37(1) of Income Tax Act are revenue expenditure, not asset creation. https://www.taxtmi.com/highlights?id=48468 Addition towards professional fees for valuation of know-how u/s 37(1) - the expenditure is not incurred for the acquisition of know-how; it is incurred only for the purpose of valuation of the know-how and same in isolation has not created any asset nor has it added any value in the know-how of the assessee - expenditure is in the revenue field and allowable u/s 37(1) Highlights Income Tax Wed, 07 Aug 2019 09:23:01 +0530 https://www.taxtmi.com/highlights?id=48468