https://www.taxtmi.com/caselaws?id=24457 The High Court held that the payment to a foreign collaborator for technical improvements falls under revenue expenditure. Therefore, the court ruled in favor of the assessee regarding the classification of the payment as revenue expenditure. However, the court sided with the Revenue regarding the deduction for disclosure fee, stating that only the amount actually paid during the relevant year was allowable as a deduction. The court emphasized the need to consider the specific nature and stipulations of the agreement in question. The High Court directed the authorities to verify and allow deductions for payments made in subsequent assessment years as per the agreement terms. en-us Thu, 13 Aug 1987 00:00:00 +0530 Wed, 20 Jan 2010 12:08:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24457 The High Court held that the payment to a foreign collaborator for technical improvements falls under revenue expenditure. Therefore, the court ruled in favor of the assessee regarding the classification of the payment as revenue expenditure. However, the court sided with the Revenue regarding the deduction for disclosure fee, stating that only the amount actually paid during the relevant year was allowable as a deduction. The court emphasized the need to consider the specific nature and stipulations of the agreement in question. The High Court directed the authorities to verify and allow deductions for payments made in subsequent assessment years as per the agreement terms. Case-Laws Income Tax Thu, 13 Aug 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24457