Non-compete fee taxable under business income

Dandvati Investments & Trading Company Pvt. Ltd. Vs ACIT (ITAT Mumbai)

ITAT Mumbai held that the amount of non-compete fee is taxable under section 28(va) of the Income Tax Act under the head ‘Income from Business & Profession’.

Facts- Apart from other grounds, the assessee has preferred the present appeal on the ground of enhancement of total income holding non-compete fees as business income.

Conclusion- The Co-ordinate Bench of Tribun

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