https://www.taxtmi.com/caselaws?id=27937 The High Court determined that payments made under licensing and technical assistance agreements for manufacturing industrial fans, water tube boilers, and fire tube boilers were revenue expenditures, not capital. Relying on precedents, the court found that technical know-how and advice did not constitute capital assets due to technological advancements. The court ruled in favor of the assessee, concluding that the payments were revenue expenditures. The judgment favored the assessee, with no costs awarded to either party. en-us Thu, 16 Feb 1984 00:00:00 +0530 Wed, 17 Feb 2010 10:14:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27937 The High Court determined that payments made under licensing and technical assistance agreements for manufacturing industrial fans, water tube boilers, and fire tube boilers were revenue expenditures, not capital. Relying on precedents, the court found that technical know-how and advice did not constitute capital assets due to technological advancements. The court ruled in favor of the assessee, concluding that the payments were revenue expenditures. The judgment favored the assessee, with no costs awarded to either party. Case-Laws Income Tax Thu, 16 Feb 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27937