Tuesday, September 18, 2018

Compensation received from 'Coca Cola' for breach of contract was capital receipt; SLP dismissed

IT: Where under master agreement between Coca Cola and Parle group, assessee-subsidiary was to be formed for bottling soft drinks for Coca Cola and as a result of breach of contract by Coca Cola, assessee's fundamental right for starting bottling business was taken away, compensation received by assessee from Coca Cola would be treated as capital receipt; SLP dismissed

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