Non-Compete Fees Are Allowable Revenue Expenditure Under Section 37(1) Over Non-Compete Period
Non-Compete Fees Are Allowable Revenue Expenditure Under Section 37(1) Over Non-Compete Period Issue Whether non-compete fees paid under a slump sale agreement constitute an allowable revenue expenditure under Section 37(1) of the Income-tax Act, 1961, amortizable over the non-compete period, in light of binding Supreme Court precedents. Facts Assessment Year: 2011-12. Non-Compete Payment: The assessee… Read More »