Gujarat High Court
Income Tax Officer vs Smartchem Technologies Ltd. - ... on 31 August, 2006
TAXAP/128/2006 1/1 ORDER
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX APPEAL No.128 of 2006
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INCOME TAX OFFICER - Appellant(s)
Versus
SMARTCHEM TECHNOLOGIES LTD. - Opponent(s)
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Appearance :
MR KM PARIKH for Appellant(s) : 1,
None for Opponent(s) : 1,
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HONOURABLE THE ACTING CHIEF JUSTICE
CORAM :
Y.R.MEENA
and
HONOURABLE MR.JUSTICE D.A.MEHTA
Date : 31/08/2006
ORAL ORDER
Heard the learned counsel for the appellant. Considering the submissions, the appeal is admitted in terms of the following substantial question of law:
"Whether on the facts and circumstances and in law the ITAT was right in holding that the payment of Rs.6 Crores made by the Assessee, as Non-compete fees, to VBC Industries Ltd. and other was an allowable business expenditure of revenue nature incurred by the assessee ?"
Issue notice to the other side. Paper-book be filed within three months. List the Appeal for final hearing after three months.
Sd/-
[ Y.R. MEENA, Actg. C.J. ] Sd/-
[ D.A. MEHTA, J ] *** Bhavesh*