Non-compete fee over 18 months deemed revenue expenditure due to lack of enduring benefit, not capital expenditure.

Non-compete fee over 18 months deemed revenue expenditure due to lack of enduring benefit, not capital expenditure. https://www.taxtmi.com/highlights?id=48157 Nature of expenditure - payment for non compete fee - the tenor of the agreement was only 18 months and it could not be stated that the assessee derived any enduring benefit due to the payment for obtaining certain commitments from payee and restricting himself from indulging in any competition or from weaning way the employees - revenue expenditure en-us Wed, 24 Jul 2019 09:11:28 +0530 Wed, 24 Jul 2019 09:11:28 +0530 TaxTMI RSS Generator Non-compete fee over 18 months deemed revenue expenditure due to lack of enduring benefit, not capital expenditure. https://www.taxtmi.com/highlights?id=48157 Nature of expenditure - payment for non compete fee - the tenor of the agreement was only 18 months and it could not be stated that the assessee derived any enduring benefit due to the payment for obtaining certain commitments from payee and restricting himself from indulging in any competition or from weaning way the employees - revenue expenditure Highlights Income Tax Wed, 24 Jul 2019 09:11:28 +0530 https://www.taxtmi.com/highlights?id=48157