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Case Law Details

Case Name : The DCIT Vs PVP Ventures Ltd (ITAT Chennai)
Related Assessment Year :
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DCIT Vs PVP Ventures Ltd (ITAT Chennai)

It is to be noted here that the assessee is already into the real estate business through its subsidiaries and also has taken over and merged an entity BREAD who owns a large chunk of land in an extent of Ac.70. Such a large project takes time to materialize and it cannot be stated that the assessee has discontinued the business. Moreover, in the earlier ground, the assessee’ s receipts from Non Compete fee and Royalty were held to be Business Incomes under the provisions of S.28(va) and (iv). Further, the AO hi

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