https://www.taxtmi.com/caselaws?id=396770 The Tax Case Appeal was dismissed as both the Commissioner of Income Tax [Appeals] and the Income Tax Appellate Tribunal ruled in favor of the respondent/assessee. The Tribunal determined that the income from the sale of shares should be treated as capital gains rather than business income, based on the nature of the shares and the specific amount accepted as capital gains. It was also found that the price paid to public shareholders did not include a non-compete fee. No substantial questions of law remained for consideration. en-us Mon, 01 Jun 2020 00:00:00 +0530 Fri, 17 Jul 2020 13:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396770 The Tax Case Appeal was dismissed as both the Commissioner of Income Tax [Appeals] and the Income Tax Appellate Tribunal ruled in favor of the respondent/assessee. The Tribunal determined that the income from the sale of shares should be treated as capital gains rather than business income, based on the nature of the shares and the specific amount accepted as capital gains. It was also found that the price paid to public shareholders did not include a non-compete fee. No substantial questions of law remained for consideration. Case-Laws Income Tax Mon, 01 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396770