Case Law Details
Case Name : M/s. Essel Pro pack Limited (Bombay High Court)
Related Assessment Year :
Courts :
All High Courts Bombay High Court
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Recently, the Bombay High Court in the case of M/s. Essel Pro pack Limited [2010-TIOL-209-HC-MUM-IT] held that the technical know how fee paid by the taxpayer for acquiring non exclusive licence to manufacture some machines, which was confined to the territory of India for the term of five years during which the proprietary rights in the patents of the licence continued to vest in the licencor,
was revenue expenditure and was allowed under section 37(1) of the Income-tax Act, 1961 (the Act).
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