https://www.taxtmi.com/caselaws?id=297626 The Tribunal allowed the appeal, ruling in favor of the assessee, and held that the expenditure on royalty to M/s Macnaught Pvt. Ltd., U.K., was a revenue expenditure eligible for deduction. The Tribunal based its decision on a previous order by a co-ordinate Bench, which established that the royalty payment was for the use of technology and trademark, making it a legitimate business expense. Consequently, the disallowance of the deduction was overturned, and the appeal was allowed in favor of the assessee. en-us Fri, 14 Nov 2014 00:00:00 +0530 Wed, 15 Sep 2021 08:59:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297626 The Tribunal allowed the appeal, ruling in favor of the assessee, and held that the expenditure on royalty to M/s Macnaught Pvt. Ltd., U.K., was a revenue expenditure eligible for deduction. The Tribunal based its decision on a previous order by a co-ordinate Bench, which established that the royalty payment was for the use of technology and trademark, making it a legitimate business expense. Consequently, the disallowance of the deduction was overturned, and the appeal was allowed in favor of the assessee. Case-Laws Income Tax Fri, 14 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297626