Amount Received for Sacrificing Profit Share in LLP Not Income or Capital Gain

DCIT Vs Sathyabama Ramachandran (ITAT Chennai) The appeal before the Income Tax Appellate Tribunal (ITAT) Chennai was filed by the Deputy Commissioner of Income Tax (DCIT) against the order of the Commissioner of Income Tax (Appeals) [CIT(A)], NFAC, Delhi, dated 08.02.2025, concerning the Assessment Year (AY) 2017–18. The revenue contested the deletion of an addition made by the Assessing Officer (AO) in relation to an amount received by the assessee, Sathyabama Ramachandran, from Elior India Catering LLP. The Revenue argued that the CIT(A) erred in deleting the additions made by the AO by a...