Home Highlights November 2011 Year 2011 This

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1. Taxability of Non-Compete fees – post amendment in Sec. 28 with the insertion of Clause (va) to section 28, the Non compete fee of Rs. 5 crores received by the assessee...

2. Non-Compete fees - taxability - chargeable to tax as ‘business income’ - AT

3. Non-compete fee receipt - consideration for transfer of the shares - Capital Gains or business income - In order to attract section 28(va)(a), there is no condition of...

4. TP - Non compete fees - Estimation of income - assessee had signed non compete agreement - no justification for non payment of non compete fees to the assessee -...

5. Non-compete fees - payment received as non-competition fee under a negative covenant is a capital receipt and not taxable under the Act. - HC

6. Non-compete fees receipt - taxability under Section 17(3)(iii) or 28(va) as salary income or business income or not - profit in lieu of salary - assessee is an...

7. TDS u/s 194L - TDS on the payment of non-compete fee - non compete fee did not confer any exclusive right to carry-on the primary business activity. The right is...

8. Nature of payment of compensation in lieu of the non-compete agreement after retirement - whether non taxable in the hands of the assessee being a capital receipt -...

9. The non-compete fee received by the assessee pursuant to the agreement dated 25.07.2007, which therein refrained him from practising the profession as a chartered...

10. Profits in lieu of salary - chargeable to tax u/s 17(3) or section 28(va) - appellant was not an employee - compensation attributable to a negative/restrictive covenant...

11. Disallowance of depreciation u/s 32 - intangible assets - amount paid for non compete fees - non compete fee is not an eligible intangible asset as the words “similar...

12. Non-compete fees paid - non-compete fee paid by the assessee did not create any capital assets, the same was revenue in nature- AT

13. Addition on account of Suspense Account Treating it as income u/s 28(iv) - Income u/s 28(iv) on account of benefit can be assessed to tax only on receipt basis - the...

14. Depreciation on the capitalised sum of non - compete fees - as non compete fee is not an asset, depreciation cannot be allowed - AT

15. Non-compete premium received by assessee is a business receipt assessable u/s. 28(va) - as in term of Article- 7 of DTAA any business income arising to the enterprise of...