https://www.taxtmi.com/caselaws?id=28022 The court held that the payment made by the assessee to a foreign company for technical assistance was of a revenue nature and allowable as a deduction in computing the total income of the assessee. The court agreed with the Tribunal's decision that the payment was part of the consideration for the right to use information and not for acquiring a capital asset. The court emphasized that the timing of the payment, whether before or during manufacturing, did not alter the nature of the transaction, ruling in favor of the assessee and awarding costs to the assessee. en-us Wed, 28 Jul 1982 00:00:00 +0530 Wed, 17 Feb 2010 13:57:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28022 The court held that the payment made by the assessee to a foreign company for technical assistance was of a revenue nature and allowable as a deduction in computing the total income of the assessee. The court agreed with the Tribunal's decision that the payment was part of the consideration for the right to use information and not for acquiring a capital asset. The court emphasized that the timing of the payment, whether before or during manufacturing, did not alter the nature of the transaction, ruling in favor of the assessee and awarding costs to the assessee. Case-Laws Income Tax Wed, 28 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28022