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2008 (8) TMI 460 - HC - Income TaxAssessee carried business of cable T.V. operations and was running cable T. V. network as sole proprietor - The assessee sold/transferred his business as a going concern and entered into a non-compete agreement and got some consideration - payment received under the agreement was not offered to tax by assessee and was claimed as capital receipt – tribunal held in favour of the assessee that there was no transfer of the goodwill – held that impugned amount received for not competing with the purchaser company in future in the suburbs cannot be made taxable under the heading “Capital gain”.
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