The Supreme Court of India has held that the payment of a non-compete fee constitutes revenue expenditure and is an allowable deduction under Section 37(1) of the Income Tax Act, 1961. The Court ruled that such expenditure, incurred to protect or enhance business profitability by eliminating competition, does not create a new capital asset or
Non-Compete Fee as Revenue Expenditure Allowable Under Section 37(1) of Income Tax Act: Supreme Court
