https://www.taxtmi.com/caselaws?id=69820 An acquisition statute that vests stage carriages and connected assets in the State for market-value compensation amounts to compulsory acquisition of capital assets, even if the vesting provision does not use the word "transfer". On that basis, the tax provisions dealing with sale, transfer, balancing charge and capital gains were attracted. Compensation referable to unexpired route permits was not treated as a revenue receipt in lieu of profits because it arose from acquisition of a capital asset. However, the record was insufficient to determine the cost of acquisition or improvement of the permits, so the capital gains issue and related computations were remitted for fresh consideration. en-us Thu, 26 Nov 1981 00:00:00 +0530 Tue, 12 Apr 2011 12:20:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69820 An acquisition statute that vests stage carriages and connected assets in the State for market-value compensation amounts to compulsory acquisition of capital assets, even if the vesting provision does not use the word "transfer". On that basis, the tax provisions dealing with sale, transfer, balancing charge and capital gains were attracted. Compensation referable to unexpired route permits was not treated as a revenue receipt in lieu of profits because it arose from acquisition of a capital asset. However, the record was insufficient to determine the cost of acquisition or improvement of the permits, so the capital gains issue and related computations were remitted for fresh consideration. Case-Laws Income Tax Thu, 26 Nov 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69820