https://www.taxtmi.com/caselaws?id=57442 The tribunal held that the payment of Rs. 99 lakhs to GEC was a revenue expenditure, the protocol dated 28-1-1972 was not superseded by clause 13 of the agreement dated 10-2-1972, and the decision to pay the amount was commercially expedient and in the best interest of MICO's business. The appeal was allowed in part, and the claim for the deduction of Rs. 99 lakhs was accepted. en-us Thu, 31 Aug 1989 00:00:00 +0530 Fri, 10 Dec 2010 12:02:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57442 The tribunal held that the payment of Rs. 99 lakhs to GEC was a revenue expenditure, the protocol dated 28-1-1972 was not superseded by clause 13 of the agreement dated 10-2-1972, and the decision to pay the amount was commercially expedient and in the best interest of MICO's business. The appeal was allowed in part, and the claim for the deduction of Rs. 99 lakhs was accepted. Case-Laws Income Tax Thu, 31 Aug 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57442