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Case Law Details

Case Name : Chemet Vs. Addl. CIT (ITAT Mumbai)
Related Assessment Year : 2000- 2001
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RELEVANT EXTRACTS:

6. However, the mere fact that the agreement was not an agency agreement is not a decisive factor as to the tax ability of the amount received on termination of the agreement. Even if the agreement was not an agency agreement and it was a simple contract, the amount received on termination of the Contract can still be taxed as a revenue receipt. Merely because it does not come under the purview of section 28(ii)(c ) does not mean that it canno

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0 Comments

  1. Timur I. Alhimenkov says:

    Great! Thank you!
    I always wanted to write in my site something like that. Can I take part of your post to my site?
    Of course, I will add backlink?

    Sincerely, Timur I.

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