https://www.taxtmi.com/caselaws?id=238064 The Tribunal upheld the validity of the assessment reopening, ruling it was not a mere change of opinion. The goodwill amount was classified as a long-term capital gain, not a revenue receipt, due to the established goodwill of the business. The bar license fee reimbursement was deemed non-taxable, as it was a reimbursement of expenses. The Tribunal allowed the assessee's appeal and dismissed the revenue's appeal, with the decision pronounced on 20-06-2013. en-us Thu, 20 Jun 2013 00:00:00 +0530 Tue, 15 Oct 2013 11:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238064 The Tribunal upheld the validity of the assessment reopening, ruling it was not a mere change of opinion. The goodwill amount was classified as a long-term capital gain, not a revenue receipt, due to the established goodwill of the business. The bar license fee reimbursement was deemed non-taxable, as it was a reimbursement of expenses. The Tribunal allowed the assessee's appeal and dismissed the revenue's appeal, with the decision pronounced on 20-06-2013. Case-Laws Income Tax Thu, 20 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238064