Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
Export commission paid to a Belgian entity was disallowed for...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded.
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Export commission paid to a Belgian entity was disallowed for failure to sustain treaty benefit under the Most Favoured Nation clause. Goodwill arising from amalgamation or a slump sale was treated as a depreciable business or commercial right, with the exclusion of goodwill from depreciable intangibles applying prospectively. Infrastructure development charges for long-term leased industrial land were revenue expenditure, and foreign-currency hedging swap charges were independently deductible as bank remuneration rather than adjustments to asset cost. Under section 14A, interest disallowance was unwarranted where own funds exceeded investments, while only exempt-income-yielding investments could be considered for administrative expenditure. Software licences qualified for computer-rate depreciation, and employee-cost deduction was available where the qualifying employment period was completed in the succeeding year.
Export commission paid to a Belgian entity was disallowed for failure to sustain treaty benefit under the Most Favoured Nation clause. Goodwill arising from amalgamation or a slump sale was treated as a depreciable business or commercial right, with the exclusion of goodwill from depreciable intangibles applying prospectively. Infrastructure development charges for long-term leased industrial land were revenue expenditure, and foreign-currency hedging swap charges were independently deductible as bank remuneration rather than adjustments to asset cost. Under section 14A, interest disallowance was unwarranted where own funds exceeded investments, while only exempt-income-yielding investments could be considered for administrative expenditure. Software licences qualified for computer-rate depreciation, and employee-cost deduction was available where the qualifying employment period was completed in the succeeding year.
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