1986 (4) TMI 4

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....-tax Act, 1961, the following question has been referred by the Tribunal as a question of law arising out of its order for the opinion of this court: "Whether, on the facts and in the circumstances of the case and on a proper construction of the collaboration agreement dated December 3,1960, the Tribunal was right in holding that the payment to R. 1. G. by way of royalty was revenue expenditure....