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1997 (9) TMI 6 - SCH - Income Tax
Collaboration Agreement with foreign company for know-how - assessee was merely given a non-exclusive and non-transferable right of user of the technical information - High Court was justified in holding expenditures in question to be revenue nature.
The Supreme Court dismissed the appeal, agreeing with the High Court that the expenditure was of revenue nature. The expenses were incurred for non-exclusive and non-transferable technical information from a foreign company, not for acquisition of any asset. No costs were awarded.
9911796707
