https://www.taxtmi.com/caselaws?id=286203 The ITAT Chennai notes that a lump sum received for giving up manufacturing rights was treated as capital in nature and not taxable as business income. It also records that section 50C was held inapplicable to a pre-insertion transfer approved under Chapter XXC, while the gratuity provision issue was sent back for fresh consideration. The notes further state that contribution to a benevolent fund was allowed outside section 40A(9), deduction under section 80IA was permitted for captive power consumption, and upfront fees, guarantee commission, non-compete fee, and royalty for extraction rights were all treated as revenue or otherwise allowable on the principles applied. en-us Mon, 13 Jun 2016 00:00:00 +0530 Mon, 17 Feb 2020 08:20:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286203 The ITAT Chennai notes that a lump sum received for giving up manufacturing rights was treated as capital in nature and not taxable as business income. It also records that section 50C was held inapplicable to a pre-insertion transfer approved under Chapter XXC, while the gratuity provision issue was sent back for fresh consideration. The notes further state that contribution to a benevolent fund was allowed outside section 40A(9), deduction under section 80IA was permitted for captive power consumption, and upfront fees, guarantee commission, non-compete fee, and royalty for extraction rights were all treated as revenue or otherwise allowable on the principles applied. Case-Laws Income Tax Mon, 13 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286203