Punjab and Haryana High Court held that :
"Learned counsel for the revenue was unable to substantiate that in the absence of any requirement of law for making deduction of tax out of the expenditure on technical know how which was capitalized and
no amount was claimed as revenue expenditure, the deduction could be
disallowed under Section 40(a)(i) of the Act."
ITA 57/2009 decided on 8-10-2012 in case of M/s Mark Auto Industries Limited
"Learned counsel for the revenue was unable to substantiate that in the absence of any requirement of law for making deduction of tax out of the expenditure on technical know how which was capitalized and
no amount was claimed as revenue expenditure, the deduction could be
disallowed under Section 40(a)(i) of the Act."
ITA 57/2009 decided on 8-10-2012 in case of M/s Mark Auto Industries Limited
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