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2008 (12) TMI 231 - AT - Income TaxExtract: .......t would be more than an adequate incentive for not competing with the principal for one year. We accordingly attribute 25 per cent of the compensation to the restrictive covenant which is not taxable and the balance 75 per cent is held taxable as revenue receipt. 7. In the result appeal of the assessee is partly allowed in terms of the order above.
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