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2001 (12) TMI 57 - HC - Income TaxExtract: .......of what is stated hereinbefore, we hold that the Tribunal was right in law in holding that the amount of royalty paid to the collaborator is revenue expenditure. The question referred to us is answered in the affirmative, i.e., in favour of the assessee and against the Revenue. The reference stands disposed of accordingly with no order as to costs.
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