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Sec. 28(va)

Income Tax Case Laws, Sec. 115JB, Sec. 28(va)

Bombay H.C : Non-compete consideration received by the assessee is not liable to tax as capital gains even after the amendment to Section 55(2)(a) of the Act w.e.f. 1.4.1998 which introduced the words ‘or a right to manufacture, produce or process any article or thing’

Avijit Das / June 30, 2015

High Court Of Bombay CIT-8, Mumbai vs. Bisleri Sales Ltd. Assessment Year : 1999-2000 Section : 115JB, 28(va) M.S.Sanklecha And […]

Bombay H.C : the amount received by the Appellant from Thermo was taxable as business income under the provisions of section 28(va) of the Act, despite the fact that the Appellant was not carrying on any business in the relevant previous year

Avijit Das / April 13, 2015

High Court Of Bombay Arun Toshniwal, Mumbai vs. DCIT 1(3) Section 28(va) S.C. Dharmadhikari And A.K. Menon, JJ. IT Appeal

Section 4, Sec. 28(va)

Madras H.C : No part of the consideration should be apportioned towards goodwill, and that the entire amount should be treated as non compete fee contrary to the ruling of this Court in the case of G.D. Naidu (165 ITR 63)

Avijit Das / March 4, 2015

High Court Of Madras CIT, Chennai vs. Hackbridge Hewittic & Easun Ltd. Section 4, 28(va) Assessment Year 1996-97 R. Sudhakar

Sec. 28(va), Section 147

Delhi H.C : In course of assessment, Assessing Officer having accepted one time non-compete fee as capital receipt, could not initiate reassessment proceedings merely on basis of change of opinion that amount in question was taxable as business income

Avijit Das / March 18, 2014

High Court Of Delhi CIT vs. Atul Kumar Swami Assessment Year : 1999-2000 Section : 28(va), 147 S. Ravindra Bhat

Section 4, Sec. 28(va), Section 145, Section 45

Karnataka H.C : Amount forfeited by assessee on cancellation of agreements of sale of its two manufacturing units in excess of that mentioned in agreements would be revenue receipt

Avijit Das / September 19, 2013

High Court Of Karnataka CIT, Central Circle Bangalore Vs. Wintac Ltd. Assessment Year : 2001-02 Section : 4, 145, 45,

Karnataka H.C : The sum of Rs. 75 lakhs received by the assessee from M/s. Praxair Carbon Dioxide Pvt. Ltd., towards transfer of certain rights and not carrying on similar business was not liable to tax under the head “Capital gains” despite the amendment to section 55(1)(b)(1) and section 56(2)(a) as held in its earlier order

Avijit Das / July 18, 2011

High Court Of Karnataka CIT, Bangalore vs. K. Chandrakanth Kini Assessment Year : 1999-2000 Section : 28(Va) N. Kumar And

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