2008 (11) TMI 52

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....N'BLE MR JUSTICE BADAR DURREZ AHMED HON'BLE MR JUSTICE RAJIV SHAKDHER BADAR DURREZ AHMED, J (ORAL) 1.   This appeal is from the order dated 31.03.2008 passed by the Income-tax Appellate Tribunal in ITA No. 3834/Del/04 relating to the assessment year 1997-98. The only question that had been raised before the tribunal by the revenue in its appeal against the order passed by the Co....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....convenant / non-compete agreement, the assessee was paid a sum of Rs 35,07,000/- by AB Electrolux. The issue arose as to whether this receipt was a capital receipt and was, therefore, exempt from tax ? 2.   The tribunal has examined the issue in detail and following its decision in the cases of Inder Kumar Khosla and Saurav Srivastava v. DCIT held that the receipt was in the nature of....