Non-compete fee paid for business purpose is revenue expenditure

HIGH COURT OF MADRAS Carborandum Universal Ltd. Versus Joint Commissioner of Income-tax TAX CASE (APPEAL) NO. 244 OF 2006 SEPTEMBER 10, 2012 JUDGMENT Chitra Venkataraman, J. The following are the substantial questions of law raised in this Tax Case relating to the assessment year 1997-98:  1.  Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that scrap sales should be included in the total turnover while computing deduction under Section 80HHC?  2.  Whether on the facts and circumstances of the case, the Tribunal was right in hol...