https://www.taxtmi.com/caselaws?id=387371 The tribunal concluded that the license fee paid by the assessee for a non-exclusive license was a revenue expenditure, as it was for limited use of technical information and regulatory approvals without acquiring ownership. The tribunal emphasized that the expenditure facilitated business operations without adding to the profit-earning apparatus. The premature termination of the agreement further supported the revenue nature of the expenditure. Consequently, the appeal was allowed, and the license fee was treated as a revenue deduction. en-us Mon, 14 Oct 2019 00:00:00 +0530 Mon, 21 Oct 2019 19:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387371 The tribunal concluded that the license fee paid by the assessee for a non-exclusive license was a revenue expenditure, as it was for limited use of technical information and regulatory approvals without acquiring ownership. The tribunal emphasized that the expenditure facilitated business operations without adding to the profit-earning apparatus. The premature termination of the agreement further supported the revenue nature of the expenditure. Consequently, the appeal was allowed, and the license fee was treated as a revenue deduction. Case-Laws Income Tax Mon, 14 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387371