1994 (4) TMI 37

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....section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), at the instance of the Revenue, requesting decision of this court on the following two questions of law: "1. Whether, on the facts and in the circumstances of the case, the royalty payments made to the foreign collaborator are deductible in full as revenue expenditure ? 2. Whether, on the facts and in the circ....

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....irmed the deduction of the entire expenditure as in the earlier assessment years and dismissed the appeal of the Revenue. The first question referred to this court relates to this deduction of technical fee as revenue expenditure. The assessee has also put up an industrial unit at Kottayam where it is manufacturing automobile tyres and tubes. It claimed deduction under section 80J as a new indu....

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.... the entire amount of technical fee paid to the foreign collaborator was deductible as revenue expenditure. This court has also held that the Kottayam unit of the assessee was a new industrial undertaking entitled to deduction under section 80J of the Act. Nothing whatsoever is brought to our notice to distinguish the aforesaid judgment either on the facts or on law. In the circumstances, there....