Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
HC upheld deductions claimed under section 37 for license fee paid to use the goodwill and name "Remfry & Sagar." The court determined that payment for using goodwill cannot be viewed as illegal or prohibited by law. The arrangement linking consideration to firm revenue was merely a basis for computing goodwill usage fees, not a prohibited sharing of legal fees under Bar Council rules. The court emphasized that goodwill represents a legitimate transferable asset, and its monetization through license fees constitutes valid business expenditure. The primary purpose was to derive benefit from an established reputation in legal services, not to circumvent professional regulations or engage in tax avoidance. The expenditure was therefore allowable as a legitimate business deduction.
HC upheld deductions claimed under section 37 for license fee paid to use the goodwill and name "Remfry & Sagar." The court determined that payment for using goodwill cannot be viewed as illegal or prohibited by law. The arrangement linking consideration to firm revenue was merely a basis for computing goodwill usage fees, not a prohibited sharing of legal fees under Bar Council rules. The court emphasized that goodwill represents a legitimate transferable asset, and its monetization through license fees constitutes valid business expenditure. The primary purpose was to derive benefit from an established reputation in legal services, not to circumvent professional regulations or engage in tax avoidance. The expenditure was therefore allowable as a legitimate business deduction.
Note: It is a system-generated summary and is for quick reference only.
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