Case Law Details
Case Name : Dandvati Investments & Trading Company Pvt. Ltd. Vs ACIT (ITAT Mumbai)
Related Assessment Year : 2006-07
Courts :
All ITAT ITAT Mumbai
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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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