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Rohitsava Chand vs. CIT (Delhi High Court)

March 26th, 2008

Non-compete compensation received by an employee-director for agreeing not to carry on any business activity relating to software development for a period of 18 months constitutes a capital receipt as it is for loss of a source of income.

See also: CIT vs. Narendra Desai (Bom) and Saurabh Srivastava vs. DCIT (Del) (SB).

Related Judgements

  1. CIT vs. Narendra Desai (Bombay High Court) 

    Receipt for agreeing to refrain from carrying on a competing business under a restrictive covenant is a capital receipt and is not chargeable to tax either as a revenue receipt or as a capital gain as ss. 28(va) and 55(2)(a) are prospective and do not apply to the year…

Posted in All Judgements, High Court |

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