https://www.taxtmi.com/highlights?id=77238 Nature of receipt - Profits in lieu of salary or capital receipt - Receipt on termination of employment - Taxability u/s 17(3)(iii) - The Tribunal considered precedents and legal principles regarding the taxability of receipts after cessation of employment. It observed that compensation attributable to a restrictive covenant is generally treated as a capital receipt. Based on this, and considering the terms of the agreement, the Tribunal held that the amount received by the assessee was a capital receipt and not taxable under section 17(3)(iii). en-us Wed, 08 May 2024 14:50:05 +0530 Wed, 08 May 2024 14:50:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=77238 Nature of receipt - Profits in lieu of salary or capital receipt - Receipt on termination of employment - Taxability u/s 17(3)(iii) - The Tribunal considered precedents and legal principles regarding the taxability of receipts after cessation of employment. It observed that compensation attributable to a restrictive covenant is generally treated as a capital receipt. Based on this, and considering the terms of the agreement, the Tribunal held that the amount received by the assessee was a capital receipt and not taxable under section 17(3)(iii). Highlights Income Tax Wed, 08 May 2024 14:50:05 +0530 https://www.taxtmi.com/highlights?id=77238