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2008 (12) TMI 21 - HC - Income Tax
Licence and Technical Assistance Agreement which include training of personnel in Italy etc. - expenditure incurred by the assessee on know-how during the year, under consideration, was in respect of, a business which was already in existence and hence, the payments were made for user of licence – hence money paid was required to be treated as revenue expenditure – consequently, any interest paid in relation to delayed payments will also, have to be treated, as one, which is, on revenue account