Tag Archives: HCL Infosystems Ltd.

Supreme Court Affirms JV Agreement Termination Receipts Non-Taxable Under Section 55(2) Supreme Court Affirms JV Agreement Termination Receipts Non-Taxable Under Section 55(2) Issue Whether compensation received by an assessee on the termination of a joint venture agreement for intangible assets/rights is taxable under Section 55(2) of the Income-tax Act, 1961, for Assessment Year 1998–99. Facts… Read More »

Amount Received on Termination of Joint Venture Agreement Using Trademarks and Patents Is Not Taxable Under Unamended Section 55(2) Issue Whether the amount received by the assessee on termination of a joint venture agreement involving the use of know-how, labels, trademarks, and patents was taxable as capital gains under Section 55(2) as it stood during… Read More »