https://www.taxtmi.com/caselaws?id=212456 The Tribunal upheld the assessing officer's decision to treat the non-compete fee as capital expenditure, denying its allowance as revenue expenditure. It also rejected the depreciation claim on the fee, determining it did not qualify as an intangible asset under the Income-tax Act. The Tribunal affirmed that the expenditure could not be spread over the benefit period, emphasizing the distinction between revenue and capital expenditures. en-us Thu, 30 Jun 2011 00:00:00 +0530 Thu, 28 Apr 2016 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212456 The Tribunal upheld the assessing officer's decision to treat the non-compete fee as capital expenditure, denying its allowance as revenue expenditure. It also rejected the depreciation claim on the fee, determining it did not qualify as an intangible asset under the Income-tax Act. The Tribunal affirmed that the expenditure could not be spread over the benefit period, emphasizing the distinction between revenue and capital expenditures. Case-Laws Income Tax Thu, 30 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212456