https://www.taxtmi.com/caselaws?id=120765 The court allowed the appeal of the assessee, directing the Assessing Officer to treat the amount of Rs. 16,45,604 as capital in nature. The court emphasized the importance of the restrictive covenant in the employment contract, determining that the compensation received for the loss of future employment opportunities was capital in nature. The court's analysis focused on the broad definition of salary under sections 17(1) and 17(3) of the Income-tax Act, ultimately ruling in favor of the assessee. en-us Tue, 18 Dec 2007 00:00:00 +0530 Tue, 24 Jul 2012 12:05:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120765 The court allowed the appeal of the assessee, directing the Assessing Officer to treat the amount of Rs. 16,45,604 as capital in nature. The court emphasized the importance of the restrictive covenant in the employment contract, determining that the compensation received for the loss of future employment opportunities was capital in nature. The court's analysis focused on the broad definition of salary under sections 17(1) and 17(3) of the Income-tax Act, ultimately ruling in favor of the assessee. Case-Laws Income Tax Tue, 18 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120765