Non-compete Fee of Rs. 5 Crores Taxable as Business Profits Post Section 28 Amendment, Clause (va) Addition.

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Full Text of the Document

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....Taxability of Non-Compete fees – post amendment in Sec. 28 with the insertion of Clause (va) to section 28, the Non compete fee of Rs. 5 crores received by the assessee is liable to be taxed under the head profits and gains of business or profession - AT....