2021 (1) TMI 485

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..... tition Agreement became taxable as a capital receipt and not as a revenue receipt by specific legislative mandate vide Section 28(va) and that too with effect from 1.4.2003. Hence, the said section 28(va) is amendatory and not clarificatory - Appellate Tribunal right in holding that provisions of section 28(iv) are not applicable in the case of assessee - Decided in favour of assessee - R/Tax Ap .....

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..... three substantial questions of law for the consideration of this Court : 1. Whether on the facts of the case, the Hon'ble ITAT was justified in law in hodling that receipt of ₹ 14,55,41,760/in the form of noncompete fees are capital in nature and not chargeable to tax ? 2. Whether on the facts of the case and in law, the Hon'ble ITAT was justified in deleting the disallowan .....

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..... is Court while disposing of the Tax Appeal No.800 of 2013 with respect to very same assessee vide judgment and order dated 04.07.2016. We take notice of the fact that in Tax Appeal No.800 of 2013, the very same question with respect to upholding to the addition of a particular amount towards noncompete fees was raised. The questions as proposed by the revenue in the said appeal ultimately came to .....

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