Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
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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