CIT v. ABB Ltd. (2021)439 ITR 554 /(2022) 284 Taxman 350 (Karn.)(HC)

S. 4 : Charge of income-tax-Capital or revenue-Non-compete fee-Sharing customer database and sharing of trained employees-Fee received is not taxable. [S. 28(i)]

Held   the non-compete fee was received for sharing the customer database and sharing of trained employees. The receipt towards the transfer was not attributable to transfer of any assets or right and from the mere fact that the receipt was not attributable to the non-compete covenant, it could not be automatically concluded that the receipt was either from business or income of an activity recurring in nature. The amount was not assessable. (AY.1997-98)

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