{"id":2638,"date":"2018-10-22T06:37:13","date_gmt":"2018-10-22T06:37:13","guid":{"rendered":"http:\/\/itatonline.org\/digest\/asianet-communications-ltd-v-cit-2018-257-taxman-473-mad-hc\/"},"modified":"2019-03-31T09:05:34","modified_gmt":"2019-03-31T09:05:34","slug":"asianet-communications-ltd-v-cit-2018-257-taxman-473-mad-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/asianet-communications-ltd-v-cit-2018-257-taxman-473-mad-hc\/","title":{"rendered":"Asianet Communications Ltd. v. CIT (2018) 407 ITR 706 \/ 257 Taxman 473 \/( 2019) 175 DTR 202  (Mad.)(HC)"},"content":{"rendered":"<p>Allowing the appeal of the assessee the Court held that ;\u00a0 since payment made as non-compete fee did not entail any enduring benefits to assessee in its business, same was to be allowed as revenue expenditure .Followed, Empire Jute Co. Ltd.\u00a0v.\u00a0CIT\u00a0(1980) 124 ITR 1 (SC).(AY. 2000-01)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure -Capital or revenue -Non-compete fee for five years \u2013 Allowable as revenue expenditure .<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2638","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-Gy","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=2638"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2638\/revisions"}],"predecessor-version":[{"id":4624,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2638\/revisions\/4624"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=2638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=2638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=2638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}