https://www.taxtmi.com/caselaws?id=38142 The High Court determined that payments to Alfred Herbert Ltd. and Landis Tool Company were revenue in nature, not capital, as they were for technical knowledge essential for business operations. These payments were allowed under section 37 of the Income-tax Act, 1961. Similarly, payments to Monarch Machine Tools Company were also deemed revenue expenditure. The court's decision overruled a previous judgment misclassifying such payments as capital. en-us Mon, 17 Apr 1978 00:00:00 +0530 Sat, 03 Apr 2010 13:39:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38142 The High Court determined that payments to Alfred Herbert Ltd. and Landis Tool Company were revenue in nature, not capital, as they were for technical knowledge essential for business operations. These payments were allowed under section 37 of the Income-tax Act, 1961. Similarly, payments to Monarch Machine Tools Company were also deemed revenue expenditure. The court's decision overruled a previous judgment misclassifying such payments as capital. Case-Laws Income Tax Mon, 17 Apr 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38142