https://www.taxtmi.com/caselaws?id=234020 The ITAT partly allowed the appeal filed by the assessee. It ruled in favor of the assessee on the taxation of Rs. 25,00,000 received on the transfer of intangible assets and Rs. 1,00,00,000 received as non-compete fees, treating them as capital receipts. However, it upheld the disallowances of bad debts, prepaid expenses, membership and subscription fees, depreciation on residential flats, and addition of income from house property. The issue of membership and subscription fees was remanded for further examination by the AO. en-us Mon, 13 May 2013 00:00:00 +0530 Thu, 31 Oct 2013 15:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234020 The ITAT partly allowed the appeal filed by the assessee. It ruled in favor of the assessee on the taxation of Rs. 25,00,000 received on the transfer of intangible assets and Rs. 1,00,00,000 received as non-compete fees, treating them as capital receipts. However, it upheld the disallowances of bad debts, prepaid expenses, membership and subscription fees, depreciation on residential flats, and addition of income from house property. The issue of membership and subscription fees was remanded for further examination by the AO. Case-Laws Income Tax Mon, 13 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234020