https://www.taxtmi.com/caselaws?id=274895 The Supreme Court clarified that 'non-compete fees' cannot be assessed as business income for the assessment year 2002-03 but should be assessable under section 28(va) from the subsequent year. The Court emphasized the importance of determining the nature of the receipt and its accrual status, remanding the matter to the first appellate authority for a detailed assessment based on evidence presented by both parties. The decision partially allowed the Revenue's appeal for statistical purposes, aligning with the categorization of non-compete fees as a capital receipt for the relevant year. en-us Mon, 20 Mar 2017 00:00:00 +0530 Sun, 09 Sep 2018 11:00:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274895 The Supreme Court clarified that 'non-compete fees' cannot be assessed as business income for the assessment year 2002-03 but should be assessable under section 28(va) from the subsequent year. The Court emphasized the importance of determining the nature of the receipt and its accrual status, remanding the matter to the first appellate authority for a detailed assessment based on evidence presented by both parties. The decision partially allowed the Revenue's appeal for statistical purposes, aligning with the categorization of non-compete fees as a capital receipt for the relevant year. Case-Laws Income Tax Mon, 20 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274895