https://www.taxtmi.com/caselaws?id=188456 The Tribunal held that the amount received by the appellant post-retirement in exchange for a restrictive covenant not to accept employment elsewhere was capital in nature and not "profits in lieu of salary" under section 17(3) of the Income-tax Act. The Tribunal distinguished between proprietary and personal rights, emphasizing the capital nature of the receipt, and aligned with the decision in Mehboob Productions (P.) Ltd. The appeal was dismissed, affirming the capital nature of the receipt and its non-taxability under the Income-tax Act. en-us Fri, 09 Oct 1998 00:00:00 +0530 Thu, 01 Dec 2016 13:17:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188456 The Tribunal held that the amount received by the appellant post-retirement in exchange for a restrictive covenant not to accept employment elsewhere was capital in nature and not "profits in lieu of salary" under section 17(3) of the Income-tax Act. The Tribunal distinguished between proprietary and personal rights, emphasizing the capital nature of the receipt, and aligned with the decision in Mehboob Productions (P.) Ltd. The appeal was dismissed, affirming the capital nature of the receipt and its non-taxability under the Income-tax Act. Case-Laws Income Tax Fri, 09 Oct 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188456