https://www.taxtmi.com/caselaws?id=177213 The Tribunal held that the amount received by the assessee under a restrictive covenant was a capital receipt and not liable to tax. The Tribunal found that the amendment introducing taxation on non-compete fees was not applicable for the relevant year. Additionally, as the cost of acquisition was nil and based on a CBDT instruction, the receipt did not attract capital gains tax. The Court upheld the Tribunal's decision, dismissing the appeal and confirming that the amount was not taxable and did not incur capital gains for the relevant assessment year. en-us Tue, 04 Dec 2007 00:00:00 +0530 Tue, 05 Jan 2016 15:04:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177213 The Tribunal held that the amount received by the assessee under a restrictive covenant was a capital receipt and not liable to tax. The Tribunal found that the amendment introducing taxation on non-compete fees was not applicable for the relevant year. Additionally, as the cost of acquisition was nil and based on a CBDT instruction, the receipt did not attract capital gains tax. The Court upheld the Tribunal's decision, dismissing the appeal and confirming that the amount was not taxable and did not incur capital gains for the relevant assessment year. Case-Laws Income Tax Tue, 04 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177213