https://www.taxtmi.com/caselaws?id=193274 A lump-sum payment received under a commercial agreement was held to be within the company's existing trade, because the arrangement was part of its business exploitation and development in Burma. The receipt was therefore not outside the trading field on that ground. However, secret processes and know-how were treated as a capital asset, and the part of the payment referable to disclosure of that confidential information was capital in character. Because the lump sum also covered drawings, designs and plans, the capital element had to be isolated by apportionment and excluded from taxable income. en-us Tue, 27 Nov 1956 00:00:00 +0530 Fri, 21 Jul 2017 15:30:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193274 A lump-sum payment received under a commercial agreement was held to be within the company's existing trade, because the arrangement was part of its business exploitation and development in Burma. The receipt was therefore not outside the trading field on that ground. However, secret processes and know-how were treated as a capital asset, and the part of the payment referable to disclosure of that confidential information was capital in character. Because the lump sum also covered drawings, designs and plans, the capital element had to be isolated by apportionment and excluded from taxable income. Case-Laws Income Tax Tue, 27 Nov 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193274