https://www.taxtmi.com/caselaws?id=171885 The Tribunal dismissed the appeal challenging the Commissioner's order under section 263, as the ground on jurisdiction was not pressed. Regarding the taxability of a non-compete fee as revenue receipt, the Tribunal upheld the CIT(A)'s decision. It found the fee should be taxed as revenue, not capital, emphasizing the need to ascertain the true nature of transactions to prevent tax evasion. The Tribunal noted the lack of goodwill calculation by the assessee, indicating an attempt to avoid tax. Consequently, the appeal was dismissed, affirming the taxability of the non-compete fee as a revenue receipt. en-us Tue, 22 May 2007 00:00:00 +0530 Sat, 08 Aug 2015 11:47:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171885 The Tribunal dismissed the appeal challenging the Commissioner's order under section 263, as the ground on jurisdiction was not pressed. Regarding the taxability of a non-compete fee as revenue receipt, the Tribunal upheld the CIT(A)'s decision. It found the fee should be taxed as revenue, not capital, emphasizing the need to ascertain the true nature of transactions to prevent tax evasion. The Tribunal noted the lack of goodwill calculation by the assessee, indicating an attempt to avoid tax. Consequently, the appeal was dismissed, affirming the taxability of the non-compete fee as a revenue receipt. Case-Laws Income Tax Tue, 22 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171885