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HC held that license fees paid by the assessee for use of the goodwill and name of a law firm constitute allowable business expenditure u/s 37. The Court ruled that linking the consideration to a percentage of the firm's billing was merely a computational measure and did not amount to revenue sharing from legal practice. The payment was characterized as consideration for exploitation of goodwill, not a prohibited arrangement under the Advocate's Act or Bar Council of India Rules. Reliance on the SC ruling in Apex Laboratories was rejected as inapposite. Accordingly, the appeals were dismissed and decided in favour of the assessee.
HC held that license fees paid by the assessee for use of the goodwill and name of a law firm constitute allowable business expenditure u/s 37. The Court ruled that linking the consideration to a percentage of the firm's billing was merely a computational measure and did not amount to revenue sharing from legal practice. The payment was characterized as consideration for exploitation of goodwill, not a prohibited arrangement under the Advocate's Act or Bar Council of India Rules. Reliance on the SC ruling in Apex Laboratories was rejected as inapposite. Accordingly, the appeals were dismissed and decided in favour of the assessee.
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