https://www.taxtmi.com/caselaws?id=207432 The Tribunal upheld disallowances of Non-Competition Fee and Payment on Termination of Joint Venture Agreement as capital expenditure. It allowed amortization of Trade Licence Fee and Provision for Leave Encashment, citing revenue nature. The issue of Advertisement Expenses in Foreign Currency was remanded for fresh adjudication. The disallowance of Write Back of Provisions for Excise Duty was rejected, and the Write Back of Provision for Contractual Liability was reduced to avoid double taxation. The Tribunal provided detailed analyses based on legal precedents, commercial principles, and consistency in judicial decisions, partially allowing the assessee's appeal and dismissing the Revenue's appeal. en-us Fri, 29 Jul 2011 00:00:00 +0530 Tue, 13 Dec 2011 01:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207432 The Tribunal upheld disallowances of Non-Competition Fee and Payment on Termination of Joint Venture Agreement as capital expenditure. It allowed amortization of Trade Licence Fee and Provision for Leave Encashment, citing revenue nature. The issue of Advertisement Expenses in Foreign Currency was remanded for fresh adjudication. The disallowance of Write Back of Provisions for Excise Duty was rejected, and the Write Back of Provision for Contractual Liability was reduced to avoid double taxation. The Tribunal provided detailed analyses based on legal precedents, commercial principles, and consistency in judicial decisions, partially allowing the assessee's appeal and dismissing the Revenue's appeal. Case-Laws Income Tax Fri, 29 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207432