https://www.taxtmi.com/caselaws?id=20358 The High Court of Calcutta ruled against allowing royalty as a business expenditure for the assessment year 1972-73. The Court held that the liability for royalty payment could only be claimed as a business expenditure in the subsequent year. However, the Court agreed with the Tribunal on the assessment of interest on fixed deposits, stating that it should be treated as business income under the head 'Profits and gains of business or profession'. en-us Mon, 14 Sep 1992 00:00:00 +0530 Fri, 13 Nov 2009 15:11:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20358 The High Court of Calcutta ruled against allowing royalty as a business expenditure for the assessment year 1972-73. The Court held that the liability for royalty payment could only be claimed as a business expenditure in the subsequent year. However, the Court agreed with the Tribunal on the assessment of interest on fixed deposits, stating that it should be treated as business income under the head 'Profits and gains of business or profession'. Case-Laws Income Tax Mon, 14 Sep 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20358