https://www.taxtmi.com/caselaws?id=769023 ITAT allowed the assessee's appeal, holding that payments under a global commercialisation agreement with the contracting party were revenue expenditures wholly and exclusively for business and allowable under s. 37(1), rather than capitalized as an intangible asset for depreciation u/s. 32. The AO was directed to recompute total income accordingly. Consequential foreign-exchange loss treated as revenue expenditure was similarly allowed. All impugned grounds were permitted and the appeal was allowed. en-us Fri, 24 Jan 2025 00:00:00 +0530 Mon, 18 Aug 2025 14:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769023 ITAT allowed the assessee's appeal, holding that payments under a global commercialisation agreement with the contracting party were revenue expenditures wholly and exclusively for business and allowable under s. 37(1), rather than capitalized as an intangible asset for depreciation u/s. 32. The AO was directed to recompute total income accordingly. Consequential foreign-exchange loss treated as revenue expenditure was similarly allowed. All impugned grounds were permitted and the appeal was allowed. Case-Laws Income Tax Fri, 24 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769023