Nature of receipt - Compensation received for pre-closure of ...

Case Laws Income Tax

February 12, 2021

Nature of receipt - Compensation received for pre-closure of contract manufacturing agreement is in the nature of capital receipt paid for loss of profit from business / loss of investment, but not in the nature of any compensation or other sum paid for not using any know-how, patent, copyright, trade-mark, license, etc., which can be brought to tax u/s.28(va)(a) of the Act. - AT

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Nature of receipt - Compensation received for pre-closure of ...

Case Laws Income Tax

February 12, 2021

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