Operation of Non- Compete Agreement for 10 years: Delhi HC rules Compensation received for Non-Carrying of Business is Capital in Nature [Read Order]

Non- Compete Agreement - Delhi HC - Non-Carrying of Business - Capital in Nature - taxscan

The Delhi High Court ruled that compensation received for non-carrying of business is capital in nature after considering the operation of non- compete agreement for 10 years. The assessee, M/s Saeed Mustafa Shervani in his individual capacity filed his Return of Income (ROI). In the ROI, the assessee declared his income as Rs.23,24,590/-. An intimation…

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