Sum received for restraining use of ceased Trademark is non taxable capital receipt

Advocate Akhilesh Kumar Sah The Words ‘Not Sharing’ In Section 28(va)(b) Control The Extended Meaning Of Taxable Income As Appearing In This Section The clause (va) has been inserted in section 28 of the Income Tax Act, 1961(herein referred to as ‘the Act’) by the Finance Act, 2002 with effect from 1.4.2003 relevant to A.Y. 2003-04. Section 28 of the Act enlists certain incomes chargeable to Income Tax under the head “Profits and gains of business or profession”.  Section 28(va)(b), subject to its Proviso and Explanation, deals with payment received for not sharing trade mark etc...