The Cochin bench of the Income Tax Appellate Tribunal (ITAT) has held that the compensation received for discontinuing commodity trading business is taxable as a non-competent fee under Section 28(va) of the Income Tax Act, 1961. While considering a second appeal by the assessee, the bench applied the literal interpretation of section 28(va) of the […]
The post Compensation Received for Discontinuing Commodity Trading Business is Taxable: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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