Payment received as Non-Compete Fees are taxable under Head of Income from Business & Profession section: ITAT [Read Order]

By Yogitha S. Yogesh - On January 4, 2023 9:00 am - 2 mins read
Payment - Payment received - Non-Compete Fees - taxable - Income - Business - Profession - ITAT - Taxscan

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that payment received as Non compete fees are taxable under the head of income from the business & Profession section. Dandvati Investments & Trading Company Pvt. Ltd, the assessee is a Private Limited Company engaged in the business of investments.  The…

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