Tribunal held that registration expenses incurred on the existing as well as new patents are wholly and exclusively incurred for the purpose of business and are revenue in nature. (AY.2010-11, 2011-12)
ITC Ltd v. ACIT (2024) 230 TTJ 921 / 38 NYPTTJ 626 (Kol)(Trib)
S. 37(1) : Business expenditure-Capital or revenue-Registration charges of new and existing patents-Allowable as revenue expenditure.
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