https://www.taxtmi.com/caselaws?id=795019 Termination compensation under a joint-venture agreement was treated by the High Court as a capital receipt. For Assessment Year 1998-99, the then-existing capital gains computation provisions did not provide the necessary machinery to assign a cost of acquisition to the extinguished bundle of intangible rights; the receipt therefore could not be taxed as capital gains. The Supreme Court declined to interfere with that conclusion and dismissed the Special Leave Petition. The discussion also concerns the prospective operation of later statutory amendments and a non-compete agreement. en-us Mon, 13 Jul 2026 00:00:00 +0530 Wed, 15 Jul 2026 08:21:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795019 Termination compensation under a joint-venture agreement was treated by the High Court as a capital receipt. For Assessment Year 1998-99, the then-existing capital gains computation provisions did not provide the necessary machinery to assign a cost of acquisition to the extinguished bundle of intangible rights; the receipt therefore could not be taxed as capital gains. The Supreme Court declined to interfere with that conclusion and dismissed the Special Leave Petition. The discussion also concerns the prospective operation of later statutory amendments and a non-compete agreement. Case-Laws Income Tax Mon, 13 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795019