https://www.taxtmi.com/caselaws?id=330373 The Tribunal ruled that the Rs. 2.5 Crores received as non-compete fees by the assessee were not taxable under Section 17(3)(iii) or Section 28(va) of the Income Tax Act. The payment was considered a capital receipt for restricting the sharing of confidential information and engaging in the airline business, rather than compensation for loss of employment. As such, it was deemed not taxable under the mentioned provisions. The Tribunal allowed the appeal, overturning the CIT(A)'s decision and excluding the Rs. 2.5 Crores from the assessee's taxable income. en-us Fri, 22 Jul 2016 00:00:00 +0530 Sat, 23 Jul 2016 19:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330373 The Tribunal ruled that the Rs. 2.5 Crores received as non-compete fees by the assessee were not taxable under Section 17(3)(iii) or Section 28(va) of the Income Tax Act. The payment was considered a capital receipt for restricting the sharing of confidential information and engaging in the airline business, rather than compensation for loss of employment. As such, it was deemed not taxable under the mentioned provisions. The Tribunal allowed the appeal, overturning the CIT(A)'s decision and excluding the Rs. 2.5 Crores from the assessee's taxable income. Case-Laws Income Tax Fri, 22 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330373