https://www.taxtmi.com/caselaws?id=59653 The Tribunal upheld the CIT(A)'s decision, ruling that the sum of Rs. 30 lakhs received by the assessee from a Swiss company for a non-compete agreement is a capital receipt and not taxable as income from business and profession. The Revenue's appeal was dismissed as they failed to prove the nature of the receipt as revenue, with the Tribunal emphasizing the burden of proof on the Revenue and citing precedents supporting the capital nature of such fees. The decision was further supported by the inapplicability of the relevant tax provision for the assessment year in question. en-us Mon, 30 May 2005 00:00:00 +0530 Fri, 31 Dec 2010 13:17:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59653 The Tribunal upheld the CIT(A)'s decision, ruling that the sum of Rs. 30 lakhs received by the assessee from a Swiss company for a non-compete agreement is a capital receipt and not taxable as income from business and profession. The Revenue's appeal was dismissed as they failed to prove the nature of the receipt as revenue, with the Tribunal emphasizing the burden of proof on the Revenue and citing precedents supporting the capital nature of such fees. The decision was further supported by the inapplicability of the relevant tax provision for the assessment year in question. Case-Laws Income Tax Mon, 30 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59653