Case Law Details
Case Name : M/s. India Medtronic Pvt. Ltd. Vs. ACIT (ITAT Mumbai)
Related Assessment Year : 2003- 04, 2004- 05
Courts :
All ITAT ITAT Mumbai
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During AY 2002-03, the Assessee had paid non-compete fees amounting to USD 1 million i.e. equivalent to INR 4,73,00,000 to the directors of Med tech Devices Limited and claimed the same as revenue expenditure. The learned AO disallowed the same under section 37(1) of the Act on the grounds that there is no justification for incurring the said expenditure. Alternatively, the learned AO held that the said amount should be considered as capital in nature. The issue under consideration is squarely covered by the order of The Hon’ble ITAT vide its order dated 25 October 2016 (ITA No. 811/Ahd/...
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Hiii Dear,
The above judgement on non compete fee is filed in Ahmedabad ITAT but ruling has been given by Mumbai ITAT.
Can u explain ? how this happened?