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Income Tax - Highlights / Catch Notes

Home Highlights April 2019 Year 2019 This

Payment of non-compete fees - revenue expenditure or capital ...

Income Tax

April 22, 2019

Payment of non-compete fees - revenue expenditure or capital expenditure - agreement with the promoter of the Company to avoid immediate competition - same business continue - No new business was acquired - no enduring benefit - allowable revenue expenditure

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  2. 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

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

 

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