https://www.taxtmi.com/caselaws?id=268490 The Tribunal upheld the CIT(A)'s decision, ruling that the amount received for non-compete fees was taxable as business income, while the consideration for the transfer of goodwill was taxable as capital gains. The Tribunal found that the clause prohibiting the vendor from carrying on the business post-transfer was a consequence, not the primary consideration. Consequently, both the assessee and revenue appeals were dismissed on 9th October 2015. en-us Fri, 09 Oct 2015 00:00:00 +0530 Fri, 27 Nov 2015 10:54:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268490 The Tribunal upheld the CIT(A)'s decision, ruling that the amount received for non-compete fees was taxable as business income, while the consideration for the transfer of goodwill was taxable as capital gains. The Tribunal found that the clause prohibiting the vendor from carrying on the business post-transfer was a consequence, not the primary consideration. Consequently, both the assessee and revenue appeals were dismissed on 9th October 2015. Case-Laws Income Tax Fri, 09 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268490