Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
Don't have an account? Register Here
Non-compete fees paid by assessee were held to be revenue expenditure, deductible u/s 28(va) of Income Tax Act. Relying on Gujarat High Court's decision in Smartchem Technologies Limited, ITAT ruled that expenditure related to profit-earning apparatus is revenue in nature. Disallowance of non-compete fees by lower authorities was unjustified. Assessee's appeal was allowed.