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2013 (5) TMI 103 - ITAT MUMBAICompensation received – Non-compete fee - for phasing out the production - whether capital receipt or revenue receipt – Held that - Since the ld. CIT(A) has considered the various details furnished by the assessee before him and satisfied himself that the compensation received by the assessee was for phasing out the use of CTC as required under the multilateral fund of the Montreal Protocol, therefore, the provisions of the second proviso to section 28(va) have been fulfilled and therefore the assessee is entitled to the benefit. - Decided in favor of assessee. Decision in ACIT Versus Tarak Chemicals (P) Ltd. [2012 (6) TMI 659 - ITAT, Mumbai] followed.
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