Non-Competent Fee received from sale of Business Asset taxable as Long Term Capital Gain: Bombay HC [Read Judgment]

A two-judge bench of the Bombay High Court has held that the non-competent fee received by the assessee from the sale of the business assets was not assessable as profits of business under Section 29(va), but the same is taxable as long-term capital gain. The assessee sold its business of manufacturing wheat herbicides for a […]

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