Steel Strips Wheels Limited, ... vs Assessee on 29 November, 2011
The Hon'ble Apex
Court in the case of Alembic Chemical Works Co Ltd v CIT (177
ITR 377) (SC), the Hon'ble Kerala High Court in the case of CIT v
Madras Spinners Ltd (177 ITR 495) and the Hon'ble Andhra
Pradesh High Court in the case of Vejan Hydrair (P) Ltd v CIT
(177 ITR 552), on identical fact, held that the amount so paid
under the agreement is revenue expenditure.