An expense cannot be treated as Capital merely for increase in Turnover and Profit

DCIT Vs Omni Active Health Technologies Ltd. (ITAT Mumbai) Briefly, the assessee is in the business of trading of healthcare and Nutraceuticals Products. The assessee is being granted patents for the one of its process in United States. A US based company filed suit against the appellant in July, 2008 for infringement of the patents rights. The assessee was also made a parity to the suit. It impacted adversely sale of assessee’s product. Therefore, to defend the suit the assessee engaged a law firm in US. The total fees paid on that account is to the tune of ₹6,39,50,543/-. Ultimately, the...