https://www.taxtmi.com/caselaws?id=121636 The Tribunal partially allowed the assessee's appeals by upholding the validity of the reopening under section 148. It determined that the non-compete fees/commission should be taxed as "business income" under section 28(va) on a cash basis. Additionally, it ruled that the use of different accounting methods was permissible and not a tax avoidance strategy. The Tribunal deemed the additional ground regarding interest charge under section 234B as irrelevant due to the main ground decision in favor of the assessee. en-us Fri, 16 Jan 2009 00:00:00 +0530 Wed, 01 Aug 2012 11:53:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121636 The Tribunal partially allowed the assessee's appeals by upholding the validity of the reopening under section 148. It determined that the non-compete fees/commission should be taxed as "business income" under section 28(va) on a cash basis. Additionally, it ruled that the use of different accounting methods was permissible and not a tax avoidance strategy. The Tribunal deemed the additional ground regarding interest charge under section 234B as irrelevant due to the main ground decision in favor of the assessee. Case-Laws Income Tax Fri, 16 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121636