https://www.taxtmi.com/caselaws?id=60333 The Tribunal held that the receipt of Rs. 175 lakhs by the assessee was a capital receipt for entering into a restrictive covenant, not casual or non-recurring. It was determined that the receipt was part of a negotiated agreement and not unforeseen. Citing relevant case law, the Tribunal concluded that the receipt did not fall under the definition of income and was not taxable under section 10(3) of the Income-tax Act. The Department's appeal was dismissed, upholding the CIT(A)'s decision to delete the addition of Rs. 175 lakhs. en-us Fri, 31 Mar 2000 00:00:00 +0530 Tue, 04 Jan 2011 17:12:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60333 The Tribunal held that the receipt of Rs. 175 lakhs by the assessee was a capital receipt for entering into a restrictive covenant, not casual or non-recurring. It was determined that the receipt was part of a negotiated agreement and not unforeseen. Citing relevant case law, the Tribunal concluded that the receipt did not fall under the definition of income and was not taxable under section 10(3) of the Income-tax Act. The Department's appeal was dismissed, upholding the CIT(A)'s decision to delete the addition of Rs. 175 lakhs. Case-Laws Income Tax Fri, 31 Mar 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60333