Addition u/s 37(1) - non-competition fee - revenue or capital ...

Non-competition fee deemed revenue expenditure, qualifies for deduction u/s 37(1) of the Income Tax Act.

April 25, 2020

Case Laws Income Tax HC

Addition u/s 37(1) - non-competition fee - revenue or capital expenditure - it does not bring in any capital asset - the payment is allowable u/s 37(1) - HC

View Source

← Previous Next →

Addition u/s 37(1) - non-competition fee - revenue or capital ...

Non-competition fee deemed revenue expenditure, qualifies for deduction u/s 37(1) of the Income Tax Act.

April 25, 2020

Case Laws Income Tax HC

You may also like:

ITAT upheld CIT(A)'s decision allowing deduction of Finance Lease Rental Payments under section 37(1) as revenue expenditure. Revenue's appeal challenging depreciation...

The assessee claimed deduction for interest and late fees paid on account of delay in filing GST returns. The authorities disallowed the claim, invoking Explanation 1 to...

Allowable expenditure u/s 37(1) - addition relating to form fees which was deposited for obtaining the wine shop through government - non-accepting the theory of...

The High Court's judgment addressed the interpretation of Section 43A regarding losses arising from exchange rate fluctuations on foreign currency loans utilized for...

Payment for know-how - deductible under Section 37 as a Revenue expenditure OR Section 35AB? - said expenditure qualifies for deduction u/s 37 - HC

Software development expenditure which was application software was revenue in nature - deduction allowed u/s 37.

Deduction u/s 37 - Guarantee commission paid to State Government – allowed as revenue expenditure - HC

Payment made towards traffic rule violation - whether revenue expenditure u/s 37(1) - whether such payments made were for an offence or is prohibited by law? - payment...

Whether the expenditure regarding club membership and entrance fee is revenue in nature or capital – Deduction u/s 37 of the Income Tax Act - Held as revenue in nature - AT

Business expenditure u/s.37(1) - share issue expenses - assessee has abandoned the proposal to issue shares at later stage - when the nature of expenditure incurred by...

Exemption u/s 11 - claiming benefit of accumulation u/s 11(2) over deemed income u/s 11(3) - non application of income - the assessee should not be eligible to claim...

Allowable revenue expenditure u/s 37(1) - Writing off of advance given to the Director - waiver of excess remuneration paid to the Director - The provisions of Section...

Deduction in respect of expenditure incurred under the head of marketing support fee and transaction support fee - every activity which gives an enduring benefit to the...

Addition towards professional fees for valuation of know-how u/s 37(1) - the expenditure is not incurred for the acquisition of know-how; it is incurred only for the...

Non-compete fees - capital expenditure or revenue expenditure – warding off competition in business will constitute capital expenditure.... - HC

Quick Updates: