2010 (12) TMI 107

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....ble as revenue expenditure. This claim of the assessee was disallowed in the assessment proceedings by the Tribunal holding the expenditure to be of capital in nature. On this basis penalty proceedings were also initiated by the Assessing Officer under section 271(1)(c) of the Income-tax Act, 1961. This penalty, however, has been set aside by the Commissioner of Income tax (Appeals) as well as by ....

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....p ; whether the technical know-how always remained the property of SNIC, whether the expenditure incurred was related to the carrying on of the business of the assessee ; whether the assessee had any right to retain, the technical know-how after the termination of the agreement ; as to what was the object of the expenditure ; as to what were the services rendered ; as to what was the nature of the....