Natural justice in insolvency-professional discipline requires disclosed material; notices based on extraneous material and ignored defences are vitia...
Development rights transfers treated as immovable property, while construction abatement applies and repeated non-payment permits extended service-tax...
Income Disclosure Scheme immunity and search-material requirements barred further share-transaction additions in unabated assessments under section 15...
Recurring trademark fees paid under a non-exclusive, time-bound licence are revenue expenditure where proprietary rights remain with the licensor. The enduring benefit test requires examination of whether the agreement transfers ownership, exclusive rights, or a lasting capital asset. Limited permission to use a trademark, coupled with an obligation to stop using it on termination, does not create such an asset. Annual fees calculated as a percentage of gross profit are recurring operational payments and remain deductible as revenue expenditure. The disallowance of the licensed trademark fee was therefore deleted.
Recurring trademark fees paid under a non-exclusive, time-bound licence are revenue expenditure where proprietary rights remain with the licensor. The enduring benefit test requires examination of whether the agreement transfers ownership, exclusive rights, or a lasting capital asset. Limited permission to use a trademark, coupled with an obligation to stop using it on termination, does not create such an asset. Annual fees calculated as a percentage of gross profit are recurring operational payments and remain deductible as revenue expenditure. The disallowance of the licensed trademark fee was therefore deleted.
Note: It is a system-generated summary and is for quick reference only.
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