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1971 (9) TMI 53 - ALLAHABAD HIGH COURT
Assessee entered into an agreement with M/s. Prakash Talkies Distributors under which it was agreed that in consideration of the assessee's paying a sum of Rs. 600 per month for a period of 5 years to M/s. Prakash Talkies Distributors, the latter would not exhibit any film at Virendra Talkies - agreement enured for a period of 5 years. The benefit accruing to the assessee was a benefit which extended for the period of 5 years. It resulted in the elimination of competition. In our opinion, the payment made is of a capital nature