TMI BlogThe non-compete fee received by the assessee pursuant to the agreement dated 25.07.2007, which therein...The non-compete fee received by the assessee pursuant to the agreement dated 25.07.2007, which therein refrained him from practising the profession as a chartered accountant for a period of 5 years, is a ‘Capital receipt’, which however, in the backdrop of our aforesaid observations would not be exigible to tax under Sec. 28(va) of the ‘Act’. - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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