https://www.taxtmi.com/caselaws?id=55785 The Tribunal ruled that the lump sum know-how payment for acquiring technical knowledge should be treated under section 35AB, allowing a deduction of 1/6th of the amount paid annually. The expenditure was deemed capital in nature, not falling under section 37(1). The write-off of investment in a subsidiary company was upheld as a capital expenditure due to business expansion reasons. The Tribunal directed treating the loss as a long-term capital loss. The revenue's appeal regarding the deduction under section 35AB was dismissed. The assessee's appeal was partly allowed, while the revenue's appeal was dismissed. en-us Mon, 11 Mar 2002 00:00:00 +0530 Tue, 30 Nov 2010 10:19:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55785 The Tribunal ruled that the lump sum know-how payment for acquiring technical knowledge should be treated under section 35AB, allowing a deduction of 1/6th of the amount paid annually. The expenditure was deemed capital in nature, not falling under section 37(1). The write-off of investment in a subsidiary company was upheld as a capital expenditure due to business expansion reasons. The Tribunal directed treating the loss as a long-term capital loss. The revenue's appeal regarding the deduction under section 35AB was dismissed. The assessee's appeal was partly allowed, while the revenue's appeal was dismissed. Case-Laws Income Tax Mon, 11 Mar 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55785