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Non-competition agreement with Ranbaxy Laboratories Ltd. - nature of receipt - Though a vague finding was rendered that the amount which was otherwise receivable by the company was diverted by the appellant, the same was not substantiated by the Tribunal - in the absence of a finding that the two agreements entered with RLL and SPIL are sham and nominal, no addition can be made - HC

Income Tax
March 8, 2018

Non-competition agreement with Ranbaxy Laboratories Ltd. - nature of receipt - Though a vague finding was rendered that the amount which was otherwise receivable by the company was diverted by the appellant, the same was not substantiated by the Tribunal - in the absence of a finding that the two agreements entered with RLL and SPIL are sham and nominal, no addition can be made - HC

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