https://www.taxtmi.com/caselaws?id=800465 Termination compensation arising from an agency-like distribution arrangement is business income where ending the arrangement does not impair the profit-making apparatus, but taxable income cannot exceed the amount actually received or accrued. A non-compete covenant acquired with a trademark may constitute a depreciable business or commercial right. For eligible-unit profit deductions, only expenditure directly connected with the unit is allocable; corporate overheads lacking that nexus are excluded, while finance, research, travel, and sales-promotion allocations require factual verification. Receipts not directly derived from exports, including miscellaneous income, deferred sales-tax discounts, and termination compensation, are reduced from export-profit computation. The interaction of eligible-unit and export deductions, and remission taxation of discounted deferred sales-tax liabilities, require statutory determination on verified facts. en-us Tue, 08 Sep 2026 00:00:00 +0530 Wed, 07 Oct 2026 08:26:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800465 Termination compensation arising from an agency-like distribution arrangement is business income where ending the arrangement does not impair the profit-making apparatus, but taxable income cannot exceed the amount actually received or accrued. A non-compete covenant acquired with a trademark may constitute a depreciable business or commercial right. For eligible-unit profit deductions, only expenditure directly connected with the unit is allocable; corporate overheads lacking that nexus are excluded, while finance, research, travel, and sales-promotion allocations require factual verification. Receipts not directly derived from exports, including miscellaneous income, deferred sales-tax discounts, and termination compensation, are reduced from export-profit computation. The interaction of eligible-unit and export deductions, and remission taxation of discounted deferred sales-tax liabilities, require statutory determination on verified facts. Case-Laws Income Tax Tue, 08 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800465