https://www.taxtmi.com/caselaws?id=177875 A once-for-all lump sum received for assignment of valuable professional rights, including brand-related and copyright-related interests, and for restrictive covenants that sterilised the source of income, is capital in nature rather than taxable revenue or professional income. The article also notes that additional evidence cannot be admitted at the appellate stage without a sufficient basis when it was not produced before the lower authorities. It further states that delay in filing a cross-objection will not be condoned absent satisfactory explanation and sufficient cause. The central principle is that a payment tied to transfer of enduring rights and source sterilisation falls outside the charging provisions for revenue income. 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 A once-for-all lump sum received for assignment of valuable professional rights, including brand-related and copyright-related interests, and for restrictive covenants that sterilised the source of income, is capital in nature rather than taxable revenue or professional income. The article also notes that additional evidence cannot be admitted at the appellate stage without a sufficient basis when it was not produced before the lower authorities. It further states that delay in filing a cross-objection will not be condoned absent satisfactory explanation and sufficient cause. The central principle is that a payment tied to transfer of enduring rights and source sterilisation falls outside the charging provisions for revenue income. Case-Laws Income Tax Sat, 01 Jan 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177875