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2012 (12) TMI 167 - HC - Income TaxRight to carry on any business - Capital gain or Business Receipt - Assessee concern was taken over by ICT-SD Engineering Consultants Pvt. Ltd. and assessee received Rs.1,20,00,000/- in terms of MOA and by subsequent agreement 45% shareholding - held that:- As decided by court in case of Commissioner of Income-tax Versus Mediworld Publications (P.) Ltd [2011 (4) TMI 503 - DELHI HIGH COURT] that the right to carry on any business has been recognized by the Legislature as a capital asset, taxable u/s 55 (2)(a) of the Act and not taxable u/s 28(va) thereof - no infirmity in the appellate order of the Tribunal. No substantial question of law therefore arises.
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