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CIT vs. Narendra Desai (Bombay High Court)

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DATE: January 21, 2008 (Date of publication)
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Receipt for agreeing to refrain from carrying on a competing business under a restrictive covenant is a capital receipt and is not chargeable to tax either as a revenue receipt or as a capital gain as ss. 28(va) and 55(2)(a) are prospective and do not apply to the year in question.

See also: Saurabh Srivastava vs. DCIT (ITAT Delhi SB)

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  1. archives » Blog Archive » Rohitsava Chand vs. CIT (Delhi High Court) says:
    March 26, 2008 at 6:21 pm

    […] also: CIT vs. Narendra Desai (Bom) and Saurabh Srivastava vs. DCIT (Del) (SB). Posted in All Judgements, High Court […]