https://www.taxtmi.com/caselaws?id=9369 The court affirmed the decision that amounts received by the assessee from a trade mark assignment and non-competition agreement in the ice cream sector were not taxable as they were considered capital receipts exempt from capital gains tax. The court held that the Revenue is bound by instructions issued by the Central Board of Direct Taxes and must adhere to them as long as they remain in operation, even if there are inconsistencies with previous court decisions. The appeal was dismissed as no substantial question of law was found. en-us Tue, 08 Nov 2005 00:00:00 +0530 Mon, 22 Jun 2009 13:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9369 The court affirmed the decision that amounts received by the assessee from a trade mark assignment and non-competition agreement in the ice cream sector were not taxable as they were considered capital receipts exempt from capital gains tax. The court held that the Revenue is bound by instructions issued by the Central Board of Direct Taxes and must adhere to them as long as they remain in operation, even if there are inconsistencies with previous court decisions. The appeal was dismissed as no substantial question of law was found. Case-Laws Income Tax Tue, 08 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9369