Alembic Chemical Works Co. Ltd. vs Commissioner Of Income Tax

Authority: Supreme Court Date: 1989-03-31 AY: 1964-65 Section: 37(1) Acts: Income Tax Act 1961 Result: Assessee Citation: (1989) 77 CTR (SC) 1 : (1989) 177 ITR 377 (SC) : (1989) 43 TAXMAN 312 Justices: R.S. Pathak, C.J. & M.N. Venkatachaliah, J. Appeal No: Civil Appeal No. 43 of 1975
Whether payment for technical know-how to improve penicillin yield is revenue expenditure deductible under Section 37(1) of the Income Tax Act 1961 --- Held Yes, as it was for improving existing business operations, not acquiring a capital asset.

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