https://www.taxtmi.com/caselaws?id=201934 The court held that the sum of Rs. 20 lakhs received by the assessee as a non-competition fee should be treated as a revenue receipt, not a capital receipt. The court determined that the compensation paid for refraining from carrying on business did not affect the trading structure or result in the loss of an enduring asset. As a result, the amount was deemed taxable as revenue receipt. The court ruled in favor of the Revenue and against the assessee, overturning the decisions of the appellate authorities. en-us Fri, 31 Jul 2009 00:00:00 +0530 Sat, 29 Dec 2012 16:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201934 The court held that the sum of Rs. 20 lakhs received by the assessee as a non-competition fee should be treated as a revenue receipt, not a capital receipt. The court determined that the compensation paid for refraining from carrying on business did not affect the trading structure or result in the loss of an enduring asset. As a result, the amount was deemed taxable as revenue receipt. The court ruled in favor of the Revenue and against the assessee, overturning the decisions of the appellate authorities. Case-Laws Income Tax Fri, 31 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201934