https://www.taxtmi.com/caselaws?id=26337 The High Court held that the sum claimed as development expenditure was wrongly treated as capital expenditure. Citing relevant case law, the Court emphasized that payments for technical know-how should be considered revenue expenditure, especially in rapidly developing fields. The Court concluded that the Tribunal erred in its decision, ruling in favor of the assessee. The referred question was answered in the negative, and each party was directed to bear their own costs in the reference. en-us Fri, 18 Jul 1986 00:00:00 +0530 Thu, 04 Feb 2010 12:58:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26337 The High Court held that the sum claimed as development expenditure was wrongly treated as capital expenditure. Citing relevant case law, the Court emphasized that payments for technical know-how should be considered revenue expenditure, especially in rapidly developing fields. The Court concluded that the Tribunal erred in its decision, ruling in favor of the assessee. The referred question was answered in the negative, and each party was directed to bear their own costs in the reference. Case-Laws Income Tax Fri, 18 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26337