https://www.taxtmi.com/caselaws?id=38478 The court ruled in favor of the assessee, holding that the payment made to British Oxygen Co. Ltd., London was a revenue expenditure for running the business and producing profits, not for creating an enduring asset. The court found that the Indian company did not acquire any permanent right to the information supplied by the English company, as the agreement prohibited the use or disclosure of such information after termination. The decision aligned with precedent cases and rejected the revenue's argument that the expenditure should be treated as capital expenditure. en-us Tue, 06 Apr 1976 00:00:00 +0530 Tue, 06 Apr 2010 15:11:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38478 The court ruled in favor of the assessee, holding that the payment made to British Oxygen Co. Ltd., London was a revenue expenditure for running the business and producing profits, not for creating an enduring asset. The court found that the Indian company did not acquire any permanent right to the information supplied by the English company, as the agreement prohibited the use or disclosure of such information after termination. The decision aligned with precedent cases and rejected the revenue's argument that the expenditure should be treated as capital expenditure. Case-Laws Income Tax Tue, 06 Apr 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38478