Taxman 333 (Delhi) / [2012] 254 CTR 38 (Delhi);
(v) Sharp Business System vs. Commissioner of Income-tax-III reported in [2012] 27 taxmann ... business continues to remain the same, and this is also one more reason to hold that the decision in Sharp Business System (supra
High Court of Delhi in the case of
Sharp Business Systems Vs. CIT (254 CTR 233). The learned Departmental
Representative for Revenue was heard ... High Court of Delhi in the case of Sharp Business Systems
(supra). At paras 4 to 7 of its order in ITA Nos.1185
Court, in respect of non-compete fee in the case of Sharp Business
Systems was not controverted by the appellant, completely disregarding the
detailed submissions ... Delhi
High Court in the case of Sharp Business Systems and held that non-complete
fee is an intangible right.
3. There has been
High Court of Delhi in the case of Sharp Business Systems
Vs. CIT (254 CTR 233). The learned Departmental Representative for
Revenue was heard ... High Court of Delhi in the case of Sharp Business Systems
(supra). At paras 4 to 7 of its order in ITA Nos.1185
Delhi High Court in the case of
Sharp Business System Vs. CIT (ITA No.492 of 2012 and C.M. Appeal
No.14836 ... Delhi High Court in the case of Sharp Business Systems
(supra) held that non-compete fees was neither revenue expenditure
nor an intangible asset
assessee company took over mailing business of M/s
Kilburn office automation Ltd (KOAL) on slum sale basis vide business transfer
agreement (BTA) executed ... High Court of Delhi in the case of Sharp
Business System (supra) as under:
"Q. Nos. 2 and 3 In Tangible Asset -
11. This
RECORD OF PROCEEDINGS
CIVIL APPEAL No(s). 4072 OF 2014
SHARP BUSINESS SYSTEM Appellant(s)
VERSUS
COMMISSIONER OF INCOME TAX III Respondent(s)
Date ... INDIA
CIVIL APPELLATE JURISDICTION
CIVIL APPEAL No(s). 4072 OF 2014
SHARP BUSINESS SYSTEM Appellant(s)
VERSUS
COMMISSIONER OF INCOME TAX III Respondent
Delhi Bench
of the Tribunal in the case of M/s Sharp Business Systems [India] Ltd [supra]
wherein it has been held as under ... certain electric and electronic office products. Though, the business of
joint venture i.e. Sharp Business Systems (India) Ltd. appears similar to that
Delhi High Court vide its recent judgment in the
case of Sharp Business System vs CIT 133 ITD 275 dated 05.11.2012 held that non-
compete ... High Court]
Per Contra, Hon'ble Delhi High Court in Sharp Business System Vs CIT
[2012 254 CTR 233] has taken contrary decision
nature of : `know-how, patents, copyrights,
trademarks, licences, franchises or any other business or commercial rights
of similar nature'. In support of his decision ... direct decision of the
Hon'ble jurisdictional High Court in Sharp Business System VS. CIT (2012)
254 CTR 233 (Del) in which the dispute
