https://www.taxtmi.com/caselaws?id=248358 The High Court held that the compensation of Rs.5.31 crores received by the assessee from M/s. Mc Dowell was capital in nature, not subject to tax as revenue receipt or under capital gains tax provisions. The court determined that the amount was for loss of income source and non-competition, making it a capital receipt. The judgments cited by the Revenue were deemed irrelevant. The court ruled in favor of the assessee, dismissing the Revenue's appeal. en-us Mon, 07 Apr 2014 00:00:00 +0530 Fri, 22 Aug 2014 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248358 The High Court held that the compensation of Rs.5.31 crores received by the assessee from M/s. Mc Dowell was capital in nature, not subject to tax as revenue receipt or under capital gains tax provisions. The court determined that the amount was for loss of income source and non-competition, making it a capital receipt. The judgments cited by the Revenue were deemed irrelevant. The court ruled in favor of the assessee, dismissing the Revenue's appeal. Case-Laws Income Tax Mon, 07 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248358