Determination of head of income in respect of payment received by an assessee from his employer under a non-compete agreement

RELEVANT PARAGRAPHS: 16. Coming to the merits of the case, facts in detail have been narrated above. The crucial facts, which are clear on the record are as under: (i) Said non compete agreement has been accepted by the department while framing the assessments u/s 143(3) where the expenses claimed by the firm payable to assessee as non compete commission has been allowed on mercantile basis. (ii) Consequent to survey in the premises of the firm, no action u/s 148 or Section 263 had been undertaken in firm’s case to hold adifferent view about the acceptability of the agreement. (iii) Even...