Tribunal held that the non compete fee is capital receipt hence not chargeable to tax . Followed ,Guffic Chem. Pvt. Ltd. v. CIT ( 2011) 332 ITR 602 (SC) ( AY.2001-02)
K. Srikanth v .ACIT (2020) 80 ITR 272 / 195 DTR 17 /206 TTJ 273 ( Chennai ) (Trib)
S. 4 : Charge of income-tax -Capital or revenue receipt — Non-compete fee — Capital receipt – Cannot be assessed as income [ S.28(i) ]