https://www.taxtmi.com/caselaws?id=239555 The High Court ruled partly in favor of the Revenue and partly in favor of the assessee in the case. The forfeited amount was apportioned between capital and revenue receipts. The valuation of closing stock was accepted as NIL due to non-saleability. The non-competition fee was considered a capital receipt. Capital gains on the sale of equity shares were upheld in favor of the assessee, while consideration for transfer of technical knowhow was deemed a capital receipt subject to capital gains tax. en-us Thu, 19 Sep 2013 00:00:00 +0530 Mon, 07 Apr 2014 17:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239555 The High Court ruled partly in favor of the Revenue and partly in favor of the assessee in the case. The forfeited amount was apportioned between capital and revenue receipts. The valuation of closing stock was accepted as NIL due to non-saleability. The non-competition fee was considered a capital receipt. Capital gains on the sale of equity shares were upheld in favor of the assessee, while consideration for transfer of technical knowhow was deemed a capital receipt subject to capital gains tax. Case-Laws Income Tax Thu, 19 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239555