https://www.taxtmi.com/caselaws?id=119066 The Tribunal ruled in favor of the appellant, a legal heir, on all issues raised in the appeal. It held that the receipt under a non-competition agreement was not taxable as capital gains but as a restrictive covenant, emphasizing the non-taxable nature of the amount received. The Tribunal also concluded that amendments to section 55 did not impact the assessment and that interest under section 234B should not have been charged in the reassessment, aligning with legal precedents. en-us Sun, 10 Apr 2005 00:00:00 +0530 Sat, 07 Jul 2012 17:39:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119066 The Tribunal ruled in favor of the appellant, a legal heir, on all issues raised in the appeal. It held that the receipt under a non-competition agreement was not taxable as capital gains but as a restrictive covenant, emphasizing the non-taxable nature of the amount received. The Tribunal also concluded that amendments to section 55 did not impact the assessment and that interest under section 234B should not have been charged in the reassessment, aligning with legal precedents. Case-Laws Income Tax Sun, 10 Apr 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119066