Dismissing the appeals of the revenue the Court held that ;the amount received as non-compete fees by the assessee could only be treated as capital receipt and was not liable to tax. The Appellate Tribunal was right in holding that, (a) the provisions of section 28(iv) of the Incometax Act, 1961 were not applicable in the case of the assessee, and (b) the amount of non-compete fees received by the assessee was not taxable as capital gains under section 45 read with section 55(2).