https://www.taxtmi.com/caselaws?id=26281 The court determined that the expenditure on technical know-how was deductible as revenue expenditure under section 37(1) of the Income-tax Act, 1961, as it was for acquiring information and guidance, not constituting a capital asset. The court held that the expenditure could not be considered part of the actual cost of machinery for depreciation allowance and development rebate, as it was solely for acquiring know-how, not tangible assets like machinery or plant. The Revenue was directed to pay the costs of the reference to the assessee. en-us Wed, 19 Oct 1983 00:00:00 +0530 Thu, 04 Feb 2010 10:31:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26281 The court determined that the expenditure on technical know-how was deductible as revenue expenditure under section 37(1) of the Income-tax Act, 1961, as it was for acquiring information and guidance, not constituting a capital asset. The court held that the expenditure could not be considered part of the actual cost of machinery for depreciation allowance and development rebate, as it was solely for acquiring know-how, not tangible assets like machinery or plant. The Revenue was directed to pay the costs of the reference to the assessee. Case-Laws Income Tax Wed, 19 Oct 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26281