TaxTMI 
TaxTMI 
2014 (6) TMI 175
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....ross appeals - one by the assessee and other by the Revenue arise out of the order passed by the CIT(A) on 14.1.2013 in relation to the assessment year 2009-10. 2. The assessee is aggrieved against the action of the ld. CIT(A) in treating a sum of Rs. 56,97,192 towards non-compete fees receivable by him from Uzind Corporation and offered for taxation as business income alleging the same as salary....
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....zind Corporation, which is a partnership form comprising of his daughter and wife, as partners. The assessee showed income from salary, house property, capital gain, income form other sources and from business. A survey was carried out in the premises of M/s Uzind Corporation, which is a general sales agent of M/s Uzbekistan Airways. The assessee and the partnership firm consisting of his wife and....
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....lared by the assessee towards receipt of non-compete fees amounting to Rs. 1,13,59,600/- has been taxed by the Assessing Officer under the head 'Salaries' without granting any deduction for certain expenses which were originally claimed by the assessee. Thus, it can be seen that there is no business income left with the assessee and consequently there are no expenses for which any deduction could ....
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....fees declared by the partnership form was taxable as assessee's income from salary. He, therefore, made the addition for this sum of Rs. 56.97 lakh. When the matter came up before the ld. CIT(A), he noticed that the action of the A.O in making addition of Rs. 56.97 lakh as salary has resulted in double taxation because the assessee himself declared income from noncompete fees at Rs. 1.13 crore, wh....