1. ' We have perused the order of the Tribunal and the High Court. We are in agreement with the reasons given by the High Court for holding the expenditure to be of revenue nature. The expenditure were incurred to obtain benefit or research and development made by the foreign company. The technical information given to the Indian company was "non-exclusive" and "non- transferable". In other words, this is not an out and out sale of technical know-how. The assessee was merely given a non-exclusive and non-transferable right of user of the technical information.
2. Expenditures in these facts cannot be said to be for acquisition of any asset at all.
3. ' The appeals are, therefore, dismissed with no order as to costs.