https://www.taxtmi.com/caselaws?id=242759 The appeal filed by the assessee was partly allowed, and the appeal filed by the revenue was dismissed. The disallowance of expenditure incurred for VRS payments was deemed revenue expenditure and allowed. However, non-compete fees were considered capital expenditure. The bad debt written off was allowed in full. Additionally, the additions to the value of closing stock for freight charges and un-utilized Modvat credit were deleted. The expenditure on the production of advertisement film was also allowed. en-us Wed, 08 Jan 2014 00:00:00 +0530 Mon, 20 Jan 2014 06:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242759 The appeal filed by the assessee was partly allowed, and the appeal filed by the revenue was dismissed. The disallowance of expenditure incurred for VRS payments was deemed revenue expenditure and allowed. However, non-compete fees were considered capital expenditure. The bad debt written off was allowed in full. Additionally, the additions to the value of closing stock for freight charges and un-utilized Modvat credit were deleted. The expenditure on the production of advertisement film was also allowed. Case-Laws Income Tax Wed, 08 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242759