https://www.taxtmi.com/caselaws?id=354693 The High Court ruled that the amount received by the assessee from Suzuki India for not providing certain benefits in the two-wheeler segment was a capital receipt and not taxable as income under section 28(va) of the Income Tax Act. The Court emphasized that compensation for a negative/restrictive covenant is a capital receipt, referring to previous judgments. Despite the Revenue's argument citing a 2016 amendment, the Court upheld the ITAT's decision, highlighting the fact-dependent nature of such cases and dismissing the appeal, stating no question of law arose. en-us Mon, 29 Jan 2018 00:00:00 +0530 Fri, 02 Feb 2018 09:18:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354693 The High Court ruled that the amount received by the assessee from Suzuki India for not providing certain benefits in the two-wheeler segment was a capital receipt and not taxable as income under section 28(va) of the Income Tax Act. The Court emphasized that compensation for a negative/restrictive covenant is a capital receipt, referring to previous judgments. Despite the Revenue's argument citing a 2016 amendment, the Court upheld the ITAT's decision, highlighting the fact-dependent nature of such cases and dismissing the appeal, stating no question of law arose. Case-Laws Income Tax Mon, 29 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354693