Amount received, restraining it from entering into insurance business on its own is capital receipt. (AY. 2001-02)
Sundaram Finance Ltd. v. ACIT [2020] 119 taxmann.com 288 (Mad.)(HC) Editorial : SLP of revenue is dismissed ,ACIT v. Sundaram Finance Ltd. (2020) 119 taxmann.com 289 / 274 Taxman 217 (SC)
S. 4 : Charge of income-tax-Capital or revenue-Non-Compete fee- Prior to 1-4-2003-Restraining it from entering into insurance business on its own-Capital receipt. [S. 28(i)]