Tribunal held that payment to its Indian counterpart for acquiring part of its business relating to debt collection service since assessee was not in debt collection service business before acquiring said business, expenditure incurred for acquiring completely new business set up was income generation tool and, hence, capital in nature.(AY. 2010-11)
Genpact Services LLC. v. DCIT (IT) (2023) 200 ITD 48 (Delhi)(Trib)
S. 37(1) : Business expenditure-Capital or revenue-Capital asset-Payment to its Indian counterpart for acquiring part of its business relating to debt collection service-Expenditure incurred for acquiring completely new business set up was income generation tool-Capital in nature.[S. 32]