S.260A : Appeal to High Court – Before pronouncing judgment the substantial question of law must be formulated – If the High Court is of the view that an appeal also involves any other substantial question of law other than that formulated earlier, it should for reasons to be recorded, first formulate the question and then hear the same – amount received towards non-compete covenant is a capital receipt not chargeable to tax [ S.4 , 28(ii)(a), 260A(4) , Code of Civil Procedure, 1908, S.100 ]
Shiv Raj Gupta v. CIT (2020) 425 ITR 420/315 CTR 601/117 taxmann.com 871 (SC)