The non-compete fee received by the assessee pursuant to the ...

Non-compete fee from 2007 agreement classified as 'Capital receipt,' exempt from tax u/s 28(va) of Income Tax Act.

January 8, 2018

Case Laws Income Tax AT

The non-compete fee received by the assessee pursuant to the agreement dated 25.07.2007, which therein refrained him from practising the profession as a chartered accountant for a period of 5 years, is a ‘Capital receipt’, which however, in the backdrop of our aforesaid observations would not be exigible to tax under Sec. 28(va) of the ‘Act’. - AT

View Source

← Previous Next →

The non-compete fee received by the assessee pursuant to the ...

Non-compete fee from 2007 agreement classified as 'Capital receipt,' exempt from tax u/s 28(va) of Income Tax Act.

January 8, 2018

Case Laws Income Tax AT

You may also like:

Non-compete fee receipt - consideration for transfer of the shares - Capital Gains or business income - In order to attract section 28(va)(a), there is no condition of...

Taxability of Non-Compete fees – post amendment in Sec. 28 with the insertion of Clause (va) to section 28, the Non compete fee of Rs. 5 crores received by the assessee...

Receipts of Non-Compete Agreement - capital gain or business receipt - The Non-Compete Agreement was part and parcel of the sale of the business and cannot be seen in...

Receipt of non-competitive fee - non-compete fee payable under the Deed of Covenant - capital receipt or revenue receipt - the matter was pertaining to the period which...

Non-compete fees paid by assessee were held to be revenue expenditure, deductible u/s 28(va) of Income Tax Act. Relying on Gujarat High Court's decision in Smartchem...

Nature of receipt - non- compete fee - capital or revenue receipt - Clearly, for the period in which the non-compete agreement was to operate, which in this case was 10...

Profits in lieu of salary - chargeable to tax u/s 17(3) or section 28(va) - appellant was not an employee - compensation attributable to a negative/restrictive covenant...

Nature of payment of compensation in lieu of the non-compete agreement after retirement - whether non taxable in the hands of the assessee being a capital receipt -...

TP - Non compete fees - Estimation of income - assessee had signed non compete agreement - no justification for non payment of non compete fees to the assessee -...

Non-compete fees - payment received as non-competition fee under a negative covenant is a capital receipt and not taxable under the Act. - HC

Non compete fee receipt - long term capital gain or business income - the amount of ₹ 39,35,00,000/- received by the assessee company as non compete fee, is a...

Non-Compete fees - taxability - chargeable to tax as ‘business income’ - AT

Revenue receipt or capital receipt - Foreign exchange gain written back on cancellation of vessel construction contract taxed u/s. 28(iv) - The ITAT agreed with the...

Non-compete fees paid - non-compete fee paid by the assessee did not create any capital assets, the same was revenue in nature- AT

Non-compete fees receipt - taxability under Section 17(3)(iii) or 28(va) as salary income or business income or not - profit in lieu of salary - assessee is an...

Quick Updates: