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Case Law Details

Case Name : M/s. Geojit Investment Services Limited Vs The Joint Commissioner of Income-tax (ITAT Cochin)
Related Assessment Year : 2009-2010
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M/s. Geojit Investment Services Limited Vs JCIT (ITAT Cochin)

The assessee-company in the instant case, had received the compensation for not carrying on any activities in relation to its commodity trading business. The compensation so paid for not carrying any activity in relation to any business (commodity trading business) would be taxable going by the plain meaning of section 28(va)(a) of the I.T.Act. Section 28(va) of the I.T.Act was introduced w.e.f. 01.04.2003. Though there was no written agreement for payment of comp

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