https://www.taxtmi.com/caselaws?id=28095 The High Court held that the amount paid by the assessee for acquiring technical know-how constituted revenue expenditure and was deductible under section 10(2)(xv) of the Income Tax Act. The court determined that the technical know-how did not create an asset of enduring nature and was essential for the profit-making process, thus qualifying as revenue expenditure. The decision favored the assessee, with each party bearing their own costs. en-us Fri, 10 Jun 1983 00:00:00 +0530 Fri, 19 Feb 2010 10:37:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28095 The High Court held that the amount paid by the assessee for acquiring technical know-how constituted revenue expenditure and was deductible under section 10(2)(xv) of the Income Tax Act. The court determined that the technical know-how did not create an asset of enduring nature and was essential for the profit-making process, thus qualifying as revenue expenditure. The decision favored the assessee, with each party bearing their own costs. Case-Laws Income Tax Fri, 10 Jun 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28095