Allowing the appeal of the assessee the Tribunal held that; annual licence fee payable on the basis of turnover achieved is held to be allowable as revenue expenditure. ( AY.2010-11)
GMR Airport Developers Ltd. v. ITO (2018) 171 ITD 595 (Hyd) (Trib.)
S.37(1): Business expenditure -Capital or revenue- Annual licence fee payable on the basis of turnover achieved is held to be allowable as revenue expenditure .