https://www.taxtmi.com/caselaws?id=414105 The High Court upheld the Tribunal's decision in a tax case, ruling that the gain on the sale of "technical know-how" was not taxable as capital gain under Section 45 of the Income Tax Act. Additionally, the non-competition fee of Rs. 30 crores was deemed not taxable as a revenue receipt. The Court also directed the re-computation of interest under Section 220(2) without charging interest on the interest paid under Section 244A. The appeal by the Revenue was dismissed, with all substantial legal questions decided in favor of the assessee. en-us Mon, 04 Oct 2021 00:00:00 +0530 Fri, 24 Dec 2021 16:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414105 The High Court upheld the Tribunal's decision in a tax case, ruling that the gain on the sale of "technical know-how" was not taxable as capital gain under Section 45 of the Income Tax Act. Additionally, the non-competition fee of Rs. 30 crores was deemed not taxable as a revenue receipt. The Court also directed the re-computation of interest under Section 220(2) without charging interest on the interest paid under Section 244A. The appeal by the Revenue was dismissed, with all substantial legal questions decided in favor of the assessee. Case-Laws Income Tax Mon, 04 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414105