https://www.taxtmi.com/caselaws?id=70117 The Tribunal ruled that the non-compete fee of Rs. 3.20 crores received by the assessee was a capital receipt and not taxable as income under the Income-tax Act, 1961. The Tribunal allowed the appeal filed by the assessee, holding that the amount was not subject to tax as business income or casual income, based on the nature of the receipt and relevant case laws. en-us Wed, 08 Jan 2003 00:00:00 +0530 Thu, 14 Apr 2011 14:32:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70117 The Tribunal ruled that the non-compete fee of Rs. 3.20 crores received by the assessee was a capital receipt and not taxable as income under the Income-tax Act, 1961. The Tribunal allowed the appeal filed by the assessee, holding that the amount was not subject to tax as business income or casual income, based on the nature of the receipt and relevant case laws. Case-Laws Income Tax Wed, 08 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70117