https://www.taxtmi.com/caselaws?id=412653 The Tribunal upheld the deletion of the disallowance of license fee paid to RSCPL, citing previous favorable decisions and legal precedents supporting the fee as a legitimate business expense. The Tribunal also dismissed the Revenue's argument regarding the increasing value of the license fee, noting the transparent and consistent nature of the agreement. Additionally, the Tribunal ruled against the ad hoc disallowance of foreign travel expenses, emphasizing the lack of evidence to support the personal element alleged by the AO. The Tribunal concluded by affirming the CIT(A)'s order, allowing the deductions claimed by the assessee under Section 37 of the Income Tax Act. en-us Wed, 22 Sep 2021 00:00:00 +0530 Thu, 23 Sep 2021 07:07:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412653 The Tribunal upheld the deletion of the disallowance of license fee paid to RSCPL, citing previous favorable decisions and legal precedents supporting the fee as a legitimate business expense. The Tribunal also dismissed the Revenue's argument regarding the increasing value of the license fee, noting the transparent and consistent nature of the agreement. Additionally, the Tribunal ruled against the ad hoc disallowance of foreign travel expenses, emphasizing the lack of evidence to support the personal element alleged by the AO. The Tribunal concluded by affirming the CIT(A)'s order, allowing the deductions claimed by the assessee under Section 37 of the Income Tax Act. Case-Laws Income Tax Wed, 22 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412653