Sec. 37(1) of the Income Tax Act, 1961 — Business Expenditure — Amounts paid by assessee at the time of acquiring an undertaking under the head 'Techno Commercial Agreement' and 'Brand Licensing Agreement' were deductible as it was essential for assessee to make such payments on account of nature of its business and on account of procuring knowledge for setting up systems as well as other procedures. SLP of the revenue dismissed as withdrawn due to low tax effect. - PR. CIT V/s NITREX CHEMICALS INDIA LTD. - [2020] 271 TAXMAN 027 (SC)