https://www.taxtmi.com/caselaws?id=202745 The Tribunal determined that the amount of Rs. 4.25 crores received by the appellant was a revenue receipt compensating for the loss of future profits and development. The compensation was not primarily for the restrictive covenant but for the annulment of business rights and potential income. The burden of proof shifted to the appellant, who failed to establish the amount as a capital receipt. The appeal was dismissed, with the Tribunal's decision upheld as no significant legal question was identified for consideration. en-us Fri, 19 Nov 2010 00:00:00 +0530 Mon, 05 Sep 2011 18:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202745 The Tribunal determined that the amount of Rs. 4.25 crores received by the appellant was a revenue receipt compensating for the loss of future profits and development. The compensation was not primarily for the restrictive covenant but for the annulment of business rights and potential income. The burden of proof shifted to the appellant, who failed to establish the amount as a capital receipt. The appeal was dismissed, with the Tribunal's decision upheld as no significant legal question was identified for consideration. Case-Laws Income Tax Fri, 19 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202745