Referring the\u00a0Judgement of\u00a0 Apex Court in Sree Meenakshi Mills Ltd v CIT ( 1957) 31 ITR 28 (SC) and\u00a0 CIT v.Biju Patnaik ( 1986) 160 ITR 674 (SC) , quoted in the judgement :<\/p>\n
\u201c (i) When the point for consideration was a pure question of law such as construction of a statute or document of title , the decision of the Tribunal\u00a0 was open for reference to the Court .<\/p>\n
(ii) When the point for determination was a mixed question of law and fact , while the finding of the Tribunal on the facts found was final , its decision as to legal effect of those findings was a question of law , which could be reviewed by the court.<\/p>\n
(iii) A finding on a question of fact was open to attack under reference under the relevant Act as erroneous in law when there was no evidence to support it or if it was perverse .<\/p>\n
(iv) When the finding was one of fact , the fact that it is itself an inference from other basic facts will not alter its character as one of the fact .\u201d<\/p>\n
Following the judgements of Apex Court the Court held that ,interpretation of document\u00a0is question of law accordingly the amount received by assessee under non-compete agreement constitute capital receipt . ( AY. 1998-99 , 1999-2000)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 260A : Appeal – High Court -Question of Law \u2014 Interpretation of document is question of law \u2014Amount received by assessee under non-compete agreement constitute capital receipt . [ S.4 ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2981","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-M5","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=2981"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2981\/revisions"}],"predecessor-version":[{"id":4492,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2981\/revisions\/4492"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=2981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=2981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=2981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}