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Sharp Business Systems (India) Ltd. vs. DCIT (ITAT Delhi)
Case Law Details
- Case Name
- M/s. Sharp Business Systems (India) Ltd., Vs Dy. Commissioner of Income-tax (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2001-02
- Courts
- ITAT Delhi
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Payment made under non-compete agreement is capital expenditure and not result into acquisition of any intangible asset and could not be eligible for depreciation allowance and could not be claimed as deferred revenue expenditure
M/s Sharp Business Systems (India) Ltd. vs. DCIT (ITAT Delhi)- The Tribunal held that payment made to ward off competition, under a covenant of non-compete, was to get established in the market and to acquire the market as per the facts of the case. The payment made was of a capital nature but could not be considered as an asset. It was not an asset ...
