https://www.taxtmi.com/caselaws?id=38387 The court ruled in favor of the assessee, determining that the technical service fees paid to Seymour were deductible as a licensing fee rather than a capital expenditure. The agreement between the parties was characterized as a licensing agreement, with the payment deemed for the use of technical know-how during the agreement period, qualifying it as a revenue expenditure. The court concluded that the $10,000 payment was not for acquiring an enduring asset but for the temporary use of technical know-how, making it deductible in computing business profits and gains. en-us Thu, 11 Nov 1976 00:00:00 +0530 Tue, 06 Apr 2010 10:01:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38387 The court ruled in favor of the assessee, determining that the technical service fees paid to Seymour were deductible as a licensing fee rather than a capital expenditure. The agreement between the parties was characterized as a licensing agreement, with the payment deemed for the use of technical know-how during the agreement period, qualifying it as a revenue expenditure. The court concluded that the $10,000 payment was not for acquiring an enduring asset but for the temporary use of technical know-how, making it deductible in computing business profits and gains. Case-Laws Income Tax Thu, 11 Nov 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38387