How many judgments cite CIT v. Best & Co. (P.) Ltd.?

64 judgments on BharatTax cite CIT v. Best & Co. (P.) Ltd. (60 ITR 11), spanning 2008 to 2025.

Which sections of the Income Tax Act does CIT v. Best & Co. (P.) Ltd. come up under?

It is most often cited in judgments turning on Section 143(3), Section 40(a)(ia), Section 250, Section 37(1), Section 133A, Section 142(1).

CIT v. Best & Co. (P.) Ltd.

60 ITR 11Supreme Court of India1966#1768 most cited

What is CIT v. Best & Co. (P.) Ltd. authority for?

Compensation received for the breach of a contract for hotel management is a capital receipt, not a trading receipt. Similarly, compensation for agreeing not to carry on competitive business or for loss of goodwill is also considered a capital receipt.

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2008 to 2025.

Also referred to as

CIT v. Best & Co. (P.) Ltd. · capital receipt · compensation for breach of contract · hotel management contract · loss of goodwill · non-compete agreement · capital asset

Sections most often in play

Section 143(3)Section 40(a)(ia)Section 250 Section 37(1)Section 133A Section 142(1)Section 143(2)Section 148

Issues it is cited on

section 35abb depreciation on non-compete fee section 35ab test of enduring benefit non-compete fee section 55(2)section 35a resulting company enduring benefit mat credit disallowance under section 40(a)(ia)section 55

Judgments citing CIT v. Best & Co. (P.) Ltd.

Ansal Properties & Industries Ltd vs. Commissioner of Income Tax

ITA - 183 / 2008HC Delhi19 Nov 2010

…oresaid project for a period of three years from the date of the signing of the agreement. In respect of this proposition, the learned counsel for the appellant has relied upon a number of precedents including the following: - “(i) CIT vs. Best & Co. 60 ITR 11. (ii) Gillanders Arbuthnot & Co. Ltd., 53 ITR 283 (SC) (iii) Hari Kailash & Co. vs. CIT, 22 ITR 195 (All.) (iv) Gomti Credits (P) Ltd. vs. DCIT, 100 TTJ (Del) 1132; (v) CIT vs. Wazir Sultan 36 ITR 175.” 10. We shall presently advert to the aforesaid decisions but before we do so, we may reproduce instructions - F.No.22…

(M/S. Ansal Properties & Infrastructure Ltd.) vs. Commissioner of Income Tax (Central-I)

ITA/183/2008HC Delhi19 Nov 2010

Commissioner of Income Tax vs. Ashok Mehra

ITA/801/2009HC Delhi25 Oct 2010

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE SURESH KUMAR KAIT

…f law on the point has been discussed in much greater details by this Court wherein various judgments of the ITA NO. 801 of 2009 Page 3 of 5 Supreme Court including Commissioner of Income Tax Vs. Best and Co. (Pvt.) Ltd. [(1966) 60 ITR 11 (SC)] were relied upon as well. 3. Learned counsel for the Revenue submitted that the circumstances in which the aforesaid payment was made to the assessee casts a doubt about the nature of payment. In this behalf, her submission was that though the assessee left the services on 30.09.2000, Non Compete Fee Agreement was entered in…

Rohitasava Chand vs. Commissioner of Income Tax

The appeal is disposed of

ITA/611/2007HC Delhi20 Mar 2008

Bench: HON'BLE MR. JUSTICE MADAN B. LOKUR,HON'BLE MR. JUSTICE V.B. GUPTA

…r consideration. 15. Among the first few cases on the subject of a restrictive ITA No.611/2007 Page 9 of 16 covenant or a non-compete agreement is the decision of the Supreme Court in Commissioner of Income Tax v. Best & Co. (Pvt). Ltd., [1966] 60 ITR 11. In that case, the assessee was paid, as a result of a restrictive covenant, some compensation to refrain from selling or accepting any business which would compete with the business of the covenantor. The question was whether the compensation received for the non- compete agreement is a revenue receipt. The Supreme Court observed as follows…