Home Highlights August 2013 Year 2013 This

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1. Legal and professional charges - capital or revenue in nature – Fee paid to advocates for SLP filed before the Supreme Court - held as revenue in nature - AT

2. Disallowance of Non-Compete Compensation - Amount paid as non-compete fee being capital out lay, can not be allowed as revenue expenditure - AT

3. Non-compete fees paid - non-compete fee paid by the assessee did not create any capital assets, the same was revenue in nature- AT

4. Professional fees paid to the consultants in relation to cement project - capital expenditure or revenue expenditure? - Held as capital expenditure - HC

5. Nature of franchise fees paid - capital or revenue expenditure - Right to use the trademark, domino’s name and logo – Exclusive license – Held as revenue expenditure - AT

6. Whether variable licence fee - amortized u/s 35ABB - payment of licence fee was capital in part and revenue in part - Capital expenditure will qualify for deduction as...

7. Corporate membership fees - revenue in nature or capital? - no reason why the renewal membership fees should not be allowed as revenue expenditure - HC

8. Automatic Reduction/Enhancement upto 10% Duty saved amount and pro rata Reduction / Enhancement in export obligation

9. Amount paid for preparation of project report, a revenue expenditure of capital expenditure – held as revenue in nature - HC

10. Dis allowance of lease rental paid to the Trust - Enhancement of lease rent allowed as revenue expenditure - - HC