https://www.taxtmi.com/caselaws?id=70114 The appeal was allowed in favor of the assessee, a limited company, regarding the taxability of Rs. 2.70 crores received as a non-competitive fee for entering into a non-competition agreement. The Tribunal determined that the amount constituted a capital receipt as it involved surrendering the profit-earning apparatus, distinguishing it from revenue income. Citing relevant instructions, the Tribunal held that the fee was capital in nature and not subject to capital gains tax, overturning the decision of the Commissioner of Income-tax (Appeals). en-us Fri, 02 Feb 2001 00:00:00 +0530 Tue, 03 Jan 2017 14:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70114 The appeal was allowed in favor of the assessee, a limited company, regarding the taxability of Rs. 2.70 crores received as a non-competitive fee for entering into a non-competition agreement. The Tribunal determined that the amount constituted a capital receipt as it involved surrendering the profit-earning apparatus, distinguishing it from revenue income. Citing relevant instructions, the Tribunal held that the fee was capital in nature and not subject to capital gains tax, overturning the decision of the Commissioner of Income-tax (Appeals). Case-Laws Income Tax Fri, 02 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70114