Agricultural land classification requires cumulative factual indicators, while industrial-purpose land and absent agricultural use defeat reinvestment...
Composite residential flat exemption upheld where supplementary agreement merged adjoining units and additional evidence supported the taxpayer's inve...
Urgent interim relief exception permits commercial suit without pre-institution mediation where immediate disclosure and asset protection are genuinel...
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.
TaxTMI 
TaxTMI 
of 4891 
