https://www.taxtmi.com/caselaws?id=37756 The court held that the payments made by the assessee for acquiring technical know-how were revenue in nature and deductible under section 37 of the Income Tax Act. The Tribunal's decision to categorize the expenditure as capital was deemed erroneous. The court ruled in favor of the assessee, allowing the deduction of the sums paid. Each party was ordered to bear its own costs. en-us Fri, 23 Feb 1979 00:00:00 +0530 Wed, 31 Mar 2010 17:49:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37756 The court held that the payments made by the assessee for acquiring technical know-how were revenue in nature and deductible under section 37 of the Income Tax Act. The Tribunal's decision to categorize the expenditure as capital was deemed erroneous. The court ruled in favor of the assessee, allowing the deduction of the sums paid. Each party was ordered to bear its own costs. Case-Laws Income Tax Fri, 23 Feb 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37756