https://www.taxtmi.com/caselaws?id=326559 A non-compete premium received by a UK resident company without a permanent establishment in India was treated as business income rather than capital gains, because it did not involve transfer of a capital asset and fell within section 28(va). However, Article 7 of the applicable DTAA allocated taxing rights over that business income to the State of residence, so the amount was not taxable in India. On that basis, the assessment order was not erroneous or prejudicial to the Revenue, and revision under section 263 was unsustainable. en-us Wed, 16 Mar 2016 00:00:00 +0530 Tue, 19 Apr 2016 12:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326559 A non-compete premium received by a UK resident company without a permanent establishment in India was treated as business income rather than capital gains, because it did not involve transfer of a capital asset and fell within section 28(va). However, Article 7 of the applicable DTAA allocated taxing rights over that business income to the State of residence, so the amount was not taxable in India. On that basis, the assessment order was not erroneous or prejudicial to the Revenue, and revision under section 263 was unsustainable. Case-Laws Income Tax Wed, 16 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326559