https://www.taxtmi.com/caselaws?id=177875 Lump-sum consideration for assigning valuable professional rights, including name, brand and copyright-related interests, coupled with restrictive covenants limiting professional activity, is capital in nature where it is paid once and for all and is not an ordinary incident of the profession. Such receipt is not taxable as professional revenue or casual income; the revenue must establish that it falls within a charging provision. Additional evidence may not be introduced at the appellate stage when it was not produced before the lower authorities and the conditions for admission are unmet. A delayed cross-objection requires a satisfactory explanation establishing sufficient cause; otherwise, condonation is unavailable. en-us Sat, 01 Jan 2000 00:00:00 +0530 Thu, 21 Jan 2016 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177875 Lump-sum consideration for assigning valuable professional rights, including name, brand and copyright-related interests, coupled with restrictive covenants limiting professional activity, is capital in nature where it is paid once and for all and is not an ordinary incident of the profession. Such receipt is not taxable as professional revenue or casual income; the revenue must establish that it falls within a charging provision. Additional evidence may not be introduced at the appellate stage when it was not produced before the lower authorities and the conditions for admission are unmet. A delayed cross-objection requires a satisfactory explanation establishing sufficient cause; otherwise, condonation is unavailable. Case-Laws Income Tax Sat, 01 Jan 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177875