https://www.taxtmi.com/caselaws?id=218309 The HC held the fee paid under a seven-year non-compete in a joint-venture was a capital expenditure, not a revenue deduction, because it secured an enduring market advantage by excluding the counterparty. The court further found a personal non-compete covenant does not create an alienable intangible asset within the statutory list (know-how, patent, copyright, trademark, license, franchise or similar rights) for depreciation under the tax provision, and therefore depreciation/deduction was disallowed in favour of the revenue. en-us Mon, 05 Nov 2012 00:00:00 +0530 Tue, 26 May 2026 17:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218309 The HC held the fee paid under a seven-year non-compete in a joint-venture was a capital expenditure, not a revenue deduction, because it secured an enduring market advantage by excluding the counterparty. The court further found a personal non-compete covenant does not create an alienable intangible asset within the statutory list (know-how, patent, copyright, trademark, license, franchise or similar rights) for depreciation under the tax provision, and therefore depreciation/deduction was disallowed in favour of the revenue. Case-Laws Income Tax Mon, 05 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218309