TMI Blog2008 (11) TMI 52X X X X Extracts X X X X X X X X Extracts X X X X ..... to income-tax – revenue’s appeal is dismissed - 1313/2008 - - - Dated:- 25-11-2008 - Advocates who appeared in this case: For the Appellant : Ms Prem Lata Bansal with Mr Mohan Prakash Gupta and Ms Anshul Sharma For the Respondent : None CORAM:- HON'BLE MR JUSTICE BADAR DURREZ AHMED HON'BLE MR JUSTICE RAJIV SHAKDHER BADAR DURREZ AHMED, J (ORAL) 1. This appeal is from the order dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t or export of specified household appliances. It was also agreed that the assessee shall not compete in any manner whatsoever with the business of Intron Limited or of its associated companies. In consideration for entering into this negative convenant / non-compete agreement, the assessee was paid a sum of Rs 35,07,000/- by AB Electrolux. The issue arose as to whether this receipt was a capital ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 08) and CIT v. S. Dhanbal (ITA No.1228/2007 decided 04.09.2008). In view of the ratio laid down in those decisions, the finding of the tribunal that the receipt was in the nature of a capital receipt, cannot be faulted. Consequently, we find that no substantial question of law arises for our consideration. The appeal is dismissed. BADAR DURREZ AHMED, J RAJIV SHAKDHER, J - - TaxTMI ..... X X X X Extracts X X X X X X X X Extracts X X X X
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