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2003 (12) TMI 32 - HC - Income TaxAmount paid by assessee to its collaborator for acquiring know-how – Held that assessee in this case was clearly not entitled to have the amount paid by it to its collaborator for acquiring know-how as an item of revenue expenditure allowable as a deduction under section 37. That payment was required to be considered only under section 35AB and the deduction that was allowable was one-sixth of the amount as provided in that section
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