TMI BlogAddition towards professional fees for valuation of know-how u/s 37(1) - the expenditure is not incurred...Addition towards professional fees for valuation of know-how u/s 37(1) - the expenditure is not incurred for the acquisition of know-how; it is incurred only for the purpose of valuation of the know-how and same in isolation has not created any asset nor has it added any value in the know-how of the assessee - expenditure is in the revenue field and allowable u/s 37(1) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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