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TMI Blog1983 (8) TMI 4X X X X Extracts X X X X X X X X Extracts X X X X ..... d agricultural implements. We are concerned in this reference with the assessment years 1963-64 and 1965-66. For these two years, the assessee had respectively paid Rs. 17,231 and Rs. 5,765 to Sulzer-Freres, Winterthur (hereinafter referred to as "the Swiss company") for drawings obtained from them. Similarly, for the assessment year 1965-66, the assessee paid Rs. 1,19,500 to Tecumseh Products Com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with the Swiss company and the American company with a view to obtaining technical know-how for the manufacture of centrifugal pumps. It was contended that there were a number of ways in which technical know-how could be obtained and that parting with the drawings was one of the ways. Reference was made to the agreements with the Swiss company and the American company had parted with any capital a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Rs. 17,231 for the assessment year 1963-64 and Rs. 5,765 for the assessment year 1965-66 made by the assessee to Sulzer-Freres, Winterthur, Switzerland, in pursuance of the collaboration agreement between them, were expenditure capital in nature and not revenue expenditure ? (2) Whether, on the facts and in the circumstances of the case, the payment of Rs. 1,19,500 made by the assessee to Tecu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that earlier, the Revenue had been relying upon the decision of the Karnataka High Court in Mysore Kirloskar Ltd. v. CIT [1968] 67 ITR 23, which had been later on overruled by a Full Bench decision of that very High Court. This decision of the Full Bench is reported in Mysore Kirloskar Ltd. v. CIT [1978] 114 ITR 443. We need not, however, advert to that decision in greater detail since we have dec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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