Non compete fee paid under deed of covenant held not taxable. Revenue can not guess commercial expediency
July 24, 2020
Income Tax, Supreme Court
Non compete fee paid under deed of covenant held not taxable. Revenue has no business to second guess commercial or business expediency – SC ABCAUS Case Law Citation:ABCAUS 3340 (2020) (07) SC Important case law relied upon by the parties:Guffic Chem (P) Ltd. v. CIT (2011) 4 SCC …