Thursday, July 23, 2020

Executing separate deed of covenant for non-compete not sham transaction: Apex Court

INCOME TAX: Amount received by assessee as non-competition fee on executing deed of covenant was not taxable under section 28(ii); it was exempt as capital receipt

from www.taxmann.com Latest Case Laws https://ift.tt/2CXDQLZ
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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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