https://www.taxtmi.com/caselaws?id=56022 The Tribunal affirmed the CIT(A)'s decision to delete the addition made for non-compete allowance in income tax assessment for multiple years. The Tribunal held that the non-compete allowance was a capital receipt not liable to income tax, emphasizing the capital nature of receipts related to restrictive covenants. The appeals by the Revenue were dismissed, with the Tribunal relying on judicial precedents and amendments in the IT Act to support its decision. en-us Wed, 29 Dec 2004 00:00:00 +0530 Fri, 15 Jun 2012 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56022 The Tribunal affirmed the CIT(A)'s decision to delete the addition made for non-compete allowance in income tax assessment for multiple years. The Tribunal held that the non-compete allowance was a capital receipt not liable to income tax, emphasizing the capital nature of receipts related to restrictive covenants. The appeals by the Revenue were dismissed, with the Tribunal relying on judicial precedents and amendments in the IT Act to support its decision. Case-Laws Income Tax Wed, 29 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56022