Any sum whether received or receivable in cash or in kind under an agreement for
(a) not carrying out any activity in relation to any business ; or
(b) not sharing any know-how, patent, copyright, trade-mark, license, franchise or any other business or commercial right of similar nature or information or technique likely to assist in the manufacture or processing of goods or provision of services.
The following receipts shall not be chargeable to tax as business income under Section 28(Va)
(i) any sum whether received or receivable in cash or in kind on account of transfer of the right to manufacture, produce or process any article or thing or right to carry on any business which is chargeable under the head ‘Income from capital gains’ or
(ii) any sum received as compensation from the multilateral fund of the Montreal Protocol on substances that deplete the Ozone Layer under the United Nations Environment programme in accordance with the terms of agreement entered into with the Government of India.