TaxTMI 
TaxTMI 
Chargeability - Section 28
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....and HCFC ( Chloroflourocarbons and Hydrochloroflourocarbons ) from Govt. of India is not taxable (iii) Income derived by a trade, profession or similar association from specific services performed for its members . (iiia) Profits on sale of a licence granted under the Imports (Control) Order, 1955, made under the Imports and Exports (Control) Act, 1947 (iiib) Cash assistance (by whatever name called) received or receivable by any person against exports under any scheme of the Government of India ; (iiic) Any duty of customs or excise re-paid or re-payable as drawback to any person against exports under the Customs and Central Excise Duties Drawback Rules, 1971 ; (iiid) Any profit on the transfer of the Duty Entitle....
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.... any business, or profession which is chargeable under the head "Capital gains"; - (ii) any sum received as compensation, from the multilateral fund of the Montreal Protocol on Substances that Deplete the Ozone layer under the United Nations Environment Programme, in accordance with the terms of agreement entered into with the Government of India; or (b) not sharing any know-how, patent, copyright, trade-mark, licence, franchise or any other business or commercial right of similar nature or information or technique likely to assist in the manufacture or processing of goods or provision for services (vi) Any sum received under a "Keyman insurance policy" [i.e. 10(10D) ] including the sum by way of bonus on su....
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....n 28 Clause (va) * "Whether a payment under an agreement not to compete (negative covenant agreement) is a capital receipt or a revenue receipt"? * Supreme Court held that in case of "Shiv Raj Gupta versus Commissioner of Income-Tax, Delhi-IV 2020 (7) TMI 544 - Supreme Court" from the facts of the case payment to assessee having considerable knowledge, expertise and skills in the business may cause negative impact on the business after removing control, as he may start his own business or engage himself directly or indirectly providing his services to any business which may rise the competition and loss of market to the Company. * There is a dichotomy between receipt of compensation by an assessee for the loss of agency and rece....