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2003 (1) TMI 283 - ITAT MADRAS-C
Extract:
....... restrictive covenant put on him for a period of five years and such amount received by the assessee for restrictive covenant is not to be subjected to income-tax, as held by the Supreme Court and the Madras High Court, as noted above. Thus we are inclined to allow the appeal filed by the assessee. 7. In the result the assessee s appeal is allowed.