Receipt Classification: Capital vs. Revenue Nature in Business Compensation u/s 28(va) of the Income Tax Act. https://www.taxtmi.com/highlights?id=4566 Capital receipt or revenue receipt - Compensation as business profit u/s 28(va) - what was transferred was a right to carry on business and that being so, application of the main section 28(va)(a) is foreclosed and forbidden, by the use of the words “shall not” in the Proviso. - AT en-us Fri, 27 Jul 2012 07:35:13 +0530 Fri, 27 Jul 2012 07:35:13 +0530 TaxTMI RSS Generator Receipt Classification: Capital vs. Revenue Nature in Business Compensation u/s 28(va) of the Income Tax Act. https://www.taxtmi.com/highlights?id=4566 Capital receipt or revenue receipt - Compensation as business profit u/s 28(va) - what was transferred was a right to carry on business and that being so, application of the main section 28(va)(a) is foreclosed and forbidden, by the use of the words “shall not” in the Proviso. - AT Highlights Income Tax Fri, 27 Jul 2012 07:35:13 +0530 https://www.taxtmi.com/highlights?id=4566