https://www.taxtmi.com/caselaws?id=370447 The tribunal upheld the CIT(A)'s decisions on all contested issues, dismissing the revenue's appeal and the assessee's cross objections. The additions for trademarks, know-how, and product information were deemed exempt capital receipts not taxable under long-term capital gains. Service charges paid to M/s. Tri Star Home Products (P) Ltd. were allowed as legitimate business expenses. The non-compete fee was not considered a capital receipt and was held liable to tax. The delay in filing cross objections was condoned, and they were admitted for consideration. The order was pronounced on 13/11/2018. en-us Tue, 13 Nov 2018 00:00:00 +0530 Sat, 17 Nov 2018 08:01:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370447 The tribunal upheld the CIT(A)'s decisions on all contested issues, dismissing the revenue's appeal and the assessee's cross objections. The additions for trademarks, know-how, and product information were deemed exempt capital receipts not taxable under long-term capital gains. Service charges paid to M/s. Tri Star Home Products (P) Ltd. were allowed as legitimate business expenses. The non-compete fee was not considered a capital receipt and was held liable to tax. The delay in filing cross objections was condoned, and they were admitted for consideration. The order was pronounced on 13/11/2018. Case-Laws Income Tax Tue, 13 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370447