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2017 (3) TMI 876 - HC - Income TaxExpenditure incurred on technical and marketing knowhow - revenue v/s capital - Held that:- Entries in the account books are not conclusive of the nature of expenditure i.e. revenue or capital and whether an assessee is entitled to a deduction or not would entirely depend upon the provisions of law and not treatment given to it in the books of accounts by the assessee. The expenditure incurred on account of technical and marketing knowhow was in the revenue field is not disputed by the Revenue. Consequently the entire expenditure of ₹ 18.67 crores has to be allowed in the subject assessment year. See Kedarnath Jute Mfg. Co. Ltd. v/s. Commissioner of Income Tax (Central) Calcutta [1971 (8) TMI 10 - SUPREME Court ] - Decided in favour of assessee
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