Case Law Details
Case Name : CIT Vs Max India Ltd. (Punjab & Haryana High Court)
Related Assessment Year : 2002-03
Courts :
All High Courts Punjab and Haryana HC
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CIT Vs Max India Ltd. (Punjab & Haryana High Court)
Conclusion: Non-compete fee received by assessee for signing of negative covenant for not carrying out a speciality business did not amount to transfer of right to carry on business, the consideration of which was liable to be taxed as capital gain.
Held: Assessee-company divested its shareholding in Max Atotech Limited to M/s Atotech BV, Netherlands for Rs. 58 crores. Alongwith the
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