Receipts being in nature of non-compete fee is a capital receipt

Nalini Mahajan Vs ACIT (ITAT Delhi) ITAT Delhi held that received towards undertaking restrictive covenant of non imparting service to any other person and not to share associated goodwill of medical practice being in the nature of non compete fee is a capital receipt and not taxable under provision of the Income Tax Act. Facts- The assessee is an individual and doctor by profession and was running a hospital under the name and style of Mother and Child New Delhi. A ‘Service Agreement’, was executed between Nova Pulse IVF Clinic Pvt. Ltd. and the assessee, Nalini Mahajan. As per the agreem...