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2011 (8) TMI 454 - AT - Income TaxAmount received against right to carry on business would amount to Capital receipt which COA is NIL u/s 55(2)(a) or not. - Held that :- The amount received by the assessee can be considered either as compensation for the Assessee agreeing not to carry out any activity in relation to any business (attracting Clause (a) of sec 28(va)) or the payment is for the services rendered by the Assessee for the Non-resident computed on the basis of the profitability of the venture for the 5 years. Either way it is revenue receipt in the hands of the Assessee. Decided against Assessee.
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