https://www.taxtmi.com/caselaws?id=58054 The Tribunal concluded that the payment made for the use of goodwill was a deductible revenue expenditure. It held that the payment was for the use, not acquisition, of goodwill. The Tribunal rejected the argument that contribution towards goodwill was necessary for entitlement to payment. Inconsistencies in prior decisions prompted referral to a larger bench, which upheld the deduction. Partnership agreements supported the payment for goodwill use. Ultimately, the appeals were allowed, and the disallowances by the CIT (Appeals) were overturned. en-us Thu, 14 Sep 1989 00:00:00 +0530 Fri, 17 Dec 2010 11:13:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58054 The Tribunal concluded that the payment made for the use of goodwill was a deductible revenue expenditure. It held that the payment was for the use, not acquisition, of goodwill. The Tribunal rejected the argument that contribution towards goodwill was necessary for entitlement to payment. Inconsistencies in prior decisions prompted referral to a larger bench, which upheld the deduction. Partnership agreements supported the payment for goodwill use. Ultimately, the appeals were allowed, and the disallowances by the CIT (Appeals) were overturned. Case-Laws Income Tax Thu, 14 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58054