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Sum received from sale of rights of ‘Technical Concept’ to safeguard website is taxable u/s 28(va)

March 20, 2019[2019] 103 taxmann.com 315 (Ahmedabad - Trib.)
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IT : Where assessee entered into an agreement with his employer-company for investment in technical concept developed by assessee for its commercial exploitation and thereafter entire business related to said concept had been sold to a US company, since dominant intention of purchaser for making payment to assessee was to prevent him from engaging in any business which could have competed with business purchased, amount so received was to be taxed as business income under section 28(va)

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