2014 (9) TMI 1256 - SC - Income Tax

Nature or receipt - Revenue Receipt versus Capital Receipt - taxability of non-compete fees - non-compete agreement incorporates a restrictive covenant on the right of the Assessee to carry on his activity of development of software - receipt in the hands of the Assessee was certainly a capital receipt - HELD THAT - After going through the record and the impugned judgment of the High Court, we do not find any error therein. The appeals are dismissed.

Summary

The Supreme Court dismissed the appeals after finding no error in the impugned judgment of the High Court. (Case Citation: 2014 (9) TMI 1256 - Supreme Court)