https://www.taxtmi.com/caselaws?id=23881 The High Court of Bombay ruled in favor of the assessee, determining that payments made to foreign companies for drawings were revenue expenditure, not capital expenditure for the assessment years 1963-64 and 1965-66. The Tribunal's decision was upheld, considering the payments as a license for technical know-how rather than a sale of assets. The High Court found the payments to be revenue expenditure based on previous judgments and directed the Commissioner to bear the costs of the reference to the assessee. en-us Wed, 31 Aug 1983 00:00:00 +0530 Fri, 15 Jan 2010 10:37:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23881 The High Court of Bombay ruled in favor of the assessee, determining that payments made to foreign companies for drawings were revenue expenditure, not capital expenditure for the assessment years 1963-64 and 1965-66. The Tribunal's decision was upheld, considering the payments as a license for technical know-how rather than a sale of assets. The High Court found the payments to be revenue expenditure based on previous judgments and directed the Commissioner to bear the costs of the reference to the assessee. Case-Laws Income Tax Wed, 31 Aug 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23881