Therefore the root of the tree remained. Moreover, there is no restrictive covenant as far as the consideration Rs. 2,02,25,000 is concerned ... assessee's business of distribution was terminated along with restrictive covenant.
7. The learned CIT D/R further strongly submitted that in the present
agreements are entered into. Such agreements are in the form of restrictive covenants where a lump sum payment is paid in lieu ... termination of the agency business and also as consideration for the restrictive covenant not to do business in the same line for a prescribed period
reasons for the premium paid in the light of the restrictive covenants contained in the Share Sale/Purchase Agreement, and that it ought to have ... such an accepted practice.
Allegation 3:
That the Agreement contained restrictive covenants which if disclosed, would have had a significant bearing on the response
alleged to have been received by the assessee on account of restrictive covenant, which was treated by the assessing officer as revenue receipt ... treated as capital receipt by the assessee, being made for restrictive covenant in view of the decision of the Supreme Court in cases of Gillanders
first plea of the assessee was that there were various restrictive covenants under the share transfer agreement dt. 21st Jan., 1993. According to the assessee ... Saboo group.
16. In the light of the aforesaid restrictive covenants, it cannot be said that the consideration of Rs. 400 per share as fixed
loss of the agency but also for the respondent accepting a restrictive covenant for a specified period;
(ii) that the restrictive covenant was an independent ... that part of the compensation which was attributable to the restrictive covenant was a capital receipt and, hence, not taxable.
Beak v. Robson
similar type of services or the business. Therefore, the compensation for restrictive covenant was a capital receipt as such the Assessing Officer was not right ... lieu of profit earning source. Therefore, the amount received against the restrictive covenant was not exigible to tax. The amount received was neither a remuneration
detrimental to the interest of the assessee-company. The restrictive covenant was to be operative for a period of five years from the date ... goodwill in the city of Kolhapur. In consideration of the restrictive covenants, the assessee-company agreed to pay to the three doctors as under
Settlement dated March 17, 1951). The said conveyance deed contained restrictive covenants to the effect that Ratanchand Hirachand, his heirs, executors, administrators and associates ... entire property agreed to be sold and shall also remove the restrictive covenants attached to the said property under the conveyance dated 20th March
detrimental to the interest of the assessee company. The restrictive covenant was to be operative for a period of five years from the date ... goodwill in the city of Kolhapur. In consideration of the restrictive covenants, the assessee company agreed to pay to the three doctors as under
