https://www.taxtmi.com/caselaws?id=204546 The High Court of Calcutta ruled in favor of the appellant, determining that the non-competition fee received was a capital receipt and not taxable. The Court criticized the Tribunal for questioning the transaction's genuineness without proper grounds and without allowing the appellant to substantiate the transaction's authenticity. The judgment emphasizes procedural fairness and factual evidence in tax assessments and appeals. en-us Fri, 15 Jul 2011 00:00:00 +0530 Mon, 05 Sep 2011 15:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204546 The High Court of Calcutta ruled in favor of the appellant, determining that the non-competition fee received was a capital receipt and not taxable. The Court criticized the Tribunal for questioning the transaction's genuineness without proper grounds and without allowing the appellant to substantiate the transaction's authenticity. The judgment emphasizes procedural fairness and factual evidence in tax assessments and appeals. Case-Laws Income Tax Fri, 15 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204546