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Madras High Court Upholds Termination of Dealership for Breach of No-Other-Employment Clause. Appellant's failure to disclose employment with a private company while holding a petroleum dealership constituted a material breach of the Dealership Agreement and Marketing Discipline Guidelines.

The appellant, P. Kalyanasundaravalli, was the proprietrix of M/s K.T. Bakthavatchalam Naidu Agency, an Indian Oil Corporation dealer. She was selecte...

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High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Payment to Non-Resident Employees Held as Salary, Not Business Income. Section 28(va) of Income Tax Act, 1961 does not apply to employment-related payments.

The appeal was filed by the revenue under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal (ITAT) dated...

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Bombay High Court Holds Leave Encashment on Resignation Taxable as Perquisite Under Section 17(3)(i) r/w Section 17(1)(iv) of Income-tax Act, 1961. The court ruled that the sum of Rs. 95,000 received by the assessee upon resignation from employment is a perquisite and liable to tax.

The case is an income tax reference under section 256 of the Income-tax Act, 1961, arising from the assessment year 1980-81. The assessee, Shri B.K. K...