Section 35AB applies to both capital expenditure and revenue expenditure

Ms. Standard Batteries Ltd. Vs CIT (Bombay High Court) 1. Section 35AB(1) : Obtaining of technical knowhow under a license would also amount to acquiring knowhow   The word “acquisition” as defined in the larger sense even in the Oxford Dictionary referred to above, would cover the use of technical knowledge knowhow by the applicant assessee which was made available by M/s. Oldham Batteries Ltd. Reliance placed by the applicant upon the decision of the Full Bench of this Court in Smt. Radhabai Vs. State of Maharashtra & Ors. AIR 1970 (Bom) 232 (FB) was in the context of the use of ...