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2022 (4) TMI 457 - AT - Income TaxCharacterization of receipts - nature of receipts - compensation received as consideration for restrictive covenant to not to do business in the same line for a prescribed period - revenue receipts or capital receipts - HELD THAT:- The amount of compensation received by the assessee company from LIPL during the year under consideration i.e. A.Y.2010-11 [2018 (11) TMI 323 - ITAT RAIPUR] being in nature of a “capital receipt” was not exigible to tax. Accordingly, finding no infirmity in the order of the CIT(Appeals) we uphold the same. - Decided in favour of assessee.
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