Tag: section 28

Forfeiture of deposit on account of cancellation of lease allowed as business loss u/s 28 being incidental to regular business carried on by the assessee ABCAUS Case Law Citation: ABCAUS 3023 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: CIT vs. Mysore Sugar Co. Ltd., …

Non-compete fee is capital receipt. Section 28(va) not apply to compensation received in relation to a profession before amendment-High Court uphelds ITAT order Prelude: Section 28 of the Income Tax Act, 1961 (the Act) list outs the types of income which are chargeable to income tax under the …