https://www.taxtmi.com/caselaws?id=259816 The court held that the consideration must be bifurcated and apportioned between the sale of shares and negative covenants, rejecting the argument that there was no consideration for the negative covenants. The Tribunal's order was deemed reasonable, and the apportionment towards the negative covenants was upheld. The consideration for the negative covenants was found not assessable to tax under Section 28 of the Income Tax Act. Consequently, the appeals were dismissed with no order as to costs. en-us Fri, 15 May 2015 00:00:00 +0530 Tue, 11 Aug 2015 14:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259816 The court held that the consideration must be bifurcated and apportioned between the sale of shares and negative covenants, rejecting the argument that there was no consideration for the negative covenants. The Tribunal's order was deemed reasonable, and the apportionment towards the negative covenants was upheld. The consideration for the negative covenants was found not assessable to tax under Section 28 of the Income Tax Act. Consequently, the appeals were dismissed with no order as to costs. Case-Laws Income Tax Fri, 15 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259816