Know-how expense for a particular customer is revenue expenditure

HIGH COURT OF MADRAS Commissioner of Income-tax, Chennai V/s. TTG Industries Ltd. Tax Case (Appeal) No. 1274 of 2005 June 8, 2012 ORDER Mrs. Chitra Venkataraman, J. The following is the question of law raised in this tax case appeal filed by the Revenue against the order of the Income Tax Appellate Tribunal relating to the assessment year 1996-97. Whether in the facts and circumstances of the case, the Tribunal was right in holding that payment for know-how is deductible under Section 37 as a Revenue expenditure, when there is a specific section i.e., Section 35AB covering the...