https://www.taxtmi.com/caselaws?id=64097 The HC determined that the compensation received by the Jain Group from Gillette Inc. was a capital receipt, not a revenue receipt, and thus not taxable under Section 28(i) of the Income-tax Act. The JVA was deemed a capital asset, not a business activity. Consequently, the revenue's appeals were dismissed, and the assessee's appeal was allowed. en-us Fri, 18 Nov 2005 00:00:00 +0530 Fri, 05 Apr 2024 15:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64097 The HC determined that the compensation received by the Jain Group from Gillette Inc. was a capital receipt, not a revenue receipt, and thus not taxable under Section 28(i) of the Income-tax Act. The JVA was deemed a capital asset, not a business activity. Consequently, the revenue's appeals were dismissed, and the assessee's appeal was allowed. Case-Laws Income Tax Fri, 18 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64097