Non-compete fee: Revenue or capital expenditure? Supreme Court explains
“Non-compete fee only seeks to protect or enhance the profitability of the business, thereby facilitating the carrying on of the business more efficiently and profitably.”
revenue expenditure
Expenditure on Overburden Removal is Capital Expenditure, hence not deductible under S. 37(1) of Income Tax Act: MP High Court
‘Employee and community welfare expenditures incurred under statutory obligations or National Coal Wage Agreements are allowable business expenses under Section 37(1), being commercially expedient.’
Tata Steel’s contribution of Rs. 212.52 cr made to Compensatory Afforestation Fund to be treated as Revenue expenditure:Bombay High Court reiterates
The Court held that contribution to Compensatory Afforestation Fund will be considered as revenue expenditure and not capital in nature
Whether expenditure incurred on replacements of old truck bodies will be treated as revenue expenditure? ITAT answers
Income Tax Appellate Tribunal, Kolkata: The Bench of Sonjoy Sarma (Judicial member) and Rajesh Kumar (Accountant Member) held that the expenditure incurred
ITAT | Scholarship expenditure incurred by Sr. Advocate Harish Salve held is revenue expenditure incurred for promoting his professional profile, and thus allowable under S. 37(1) ITA
Income Tax Appellate Tribunal (ITAT): A Bench of Amit Shukla, Judicial Member and Prashant Maharishi, Accountant Member, allowed an income tax appeal filed