https://www.taxtmi.com/caselaws?id=38656 The Tribunal held that payments made by the assessee to a foreign collaborator under a collaboration agreement constituted revenue expenditure, allowing the entire amount as a deduction. The decision was based on the agreement's clauses granting a license for patents and designs, with no absolute right to know-how acquired by the assessee. The Tribunal distinguished the case from precedent, upholding that the payments aligned with revenue expenditure principles. This ruling favored the assessee in all references, affirming that the payments were correctly treated as revenue expenditure under the terms of the collaboration agreement. en-us Mon, 14 Mar 1977 00:00:00 +0530 Thu, 08 Apr 2010 10:35:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38656 The Tribunal held that payments made by the assessee to a foreign collaborator under a collaboration agreement constituted revenue expenditure, allowing the entire amount as a deduction. The decision was based on the agreement's clauses granting a license for patents and designs, with no absolute right to know-how acquired by the assessee. The Tribunal distinguished the case from precedent, upholding that the payments aligned with revenue expenditure principles. This ruling favored the assessee in all references, affirming that the payments were correctly treated as revenue expenditure under the terms of the collaboration agreement. Case-Laws Income Tax Mon, 14 Mar 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38656