The Tribunal affirmed the findings of the Assessing Officer that the non-compete fee consideration was nothing but a part consideration for purchase of shares. Hence, the expenditure cannot be allowed as revenue deduction. (AY. 2017-18).
Adler Mediequip Pvt. Ltd v. Dy.CIT (2022)97 ITR 20 (SN) (Pune) (Trib)
S. 37(1) : Business expenditure-Capital or Revenue-Non-compete fee-Amortised-Depreciation claimed-Capital expenditure. [S. 32]