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1983 (6) TMI 25 - ANDHRA PRADESH HIGH COURT
Extract:
.......above discussion, we hold that the amount of Rs. 6,35,400 paid by the assessee for acquiring technical know-how under the agreement, dated April 16, 1964, constitutes revenue expenditure and is deductible under s. 10(2)(xv) of the I.T. Act. We, accordingly, answer the question referred in favour of the assessee-company. Parties to bear their costs.