Non-compete compensation for 10-year period deemed capital receipt; not taxable under current regulations.

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....Nature of receipt - non- compete fee - capital or revenue receipt - Clearly, for the period in which the non-compete agreement was to operate, which in this case was 10 years, the assessee’s source of income had been clamped and, therefore, compensation received by him could only be treated as capital receipt. - Not taxable - HC....