Licence Fee & Goodwill Payment Allowed as Business Expense Since Not Prohibited by Law

PCIT Vs Remfry & Sagar (Delhi High Court) The Delhi High Court dealt with a batch of appeals filed under Section 260A of the Income Tax Act, 1961, in which the Revenue challenged orders of the Income Tax Appellate Tribunal allowing deduction of licence fees paid for the use of goodwill. The respondent sought early hearing on the ground that the substantial questions of law framed in 2017 were already covered by a later judgment of the same Court in the assessee’s own cases for different assessment years. The Revenue did not object to early hearing and fairly conceded that the issues stoo...