Shiv Raj Gupta vs Commissioner Of Income Tax

Whether the amount of Rs. 6.6 crores received by the assessee from SWC is taxable under Section 28(ii)(a) of the Income Tax Act as compensation for termination of management or is exempt as capital receipt being non-competition fee --- Held: No, the amount is not taxable under Section 28(ii)(a) as the High Court exceeded its jurisdiction under Section 260-A by deciding on taxability under capital gains without proper formulation of substantial question of law.