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2016 (2) TMI 413 - HC - Income TaxNon-compete fees - whether classifiable under Section 17 of the Act as profits in lieu of salary? - AO observed that payment for noncompete fees with Grasim is only a camouflage - Held that:- In the present facts, the Assessing Officer in his order has after negativing the Appellant's claim is a non-compete fee held that the same is classifiable as profit in lieu of salary under Section 17 of the Act. This determination by the Assessing Officer was not a subject matter of challenge by the Appellant before any of the appellate authorities. Thus, it is not an issue which even arises from the impugned order of the Tribunal. - Decided in favour of the Revenue and against the Appellant.
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