Tribunal Dismisses Assessing Officer's Use of Section 55(2)(a) for 1996-97; Provision Enacted in 1998-99.

Tribunal Dismisses Assessing Officer's Use of Section 55(2)(a) for 1996-97; Provision Enacted in 1998-99. https://www.taxtmi.com/highlights?id=22089 Goodwill v/s non compete fee - The reliance placed by the Assessing Officer on Section 55(2)(a) of the Income Tax Act was repelled by the Tribunal rightly on a plea that the said provision came into effect in the year 1998-99, whereas the assessment year in the present case is 1996-97 - HC en-us Fri, 13 Mar 2015 12:07:10 +0530 Fri, 13 Mar 2015 12:07:10 +0530 TaxTMI RSS Generator Tribunal Dismisses Assessing Officer's Use of Section 55(2)(a) for 1996-97; Provision Enacted in 1998-99. https://www.taxtmi.com/highlights?id=22089 Goodwill v/s non compete fee - The reliance placed by the Assessing Officer on Section 55(2)(a) of the Income Tax Act was repelled by the Tribunal rightly on a plea that the said provision came into effect in the year 1998-99, whereas the assessment year in the present case is 1996-97 - HC Highlights Income Tax Fri, 13 Mar 2015 12:07:10 +0530 https://www.taxtmi.com/highlights?id=22089