Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2010 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2010 (1) TMI 85 - MADRAS HIGH COURT“Whether on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that the expenses incurred to get technical know-how is fully allowable under section 37 of the Income-tax Act, 1961?” - In the present case, absolutely there is no details regarding the technical know-how payment and also there is no discussion by any of the authorities below that how the technical know-how is the revenue expenditure. There is complete lack of details in respect of agreement entered into between the assessee and the foreign collaborator and the Revenue has not enclosed the copy of the said agreement. In view of the absence of detail and discussion in the order, it is difficult for this court to determine whether the expenditure incurred towards technical know-how is the revenue or capital expenditure - The authorities below have not given any details regarding the technical know-how payment. In these circumstances, the order passed by the Tribunal is set aside and the matter is remitted back to the Income-tax Appellate Tribunal
|