https://www.taxtmi.com/caselaws?id=181264 The Tribunal allowed the appeal, ruling that the amount of Rs. 11,00,000 paid to the assessee by M/s. Hindustan Ciba Geigy Ltd. against a restrictive covenant is not taxable as it constitutes a capital receipt, not remuneration for services rendered. The Tribunal emphasized that the restrictive covenant was entered into after the termination of employment and was not a means to evade tax. The Department failed to prove tax evasion, and the Tribunal relied on legal precedents to support its decision. en-us Fri, 28 Feb 1997 00:00:00 +0530 Tue, 12 Apr 2016 10:51:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181264 The Tribunal allowed the appeal, ruling that the amount of Rs. 11,00,000 paid to the assessee by M/s. Hindustan Ciba Geigy Ltd. against a restrictive covenant is not taxable as it constitutes a capital receipt, not remuneration for services rendered. The Tribunal emphasized that the restrictive covenant was entered into after the termination of employment and was not a means to evade tax. The Department failed to prove tax evasion, and the Tribunal relied on legal precedents to support its decision. Case-Laws Income Tax Fri, 28 Feb 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181264