https://www.taxtmi.com/caselaws?id=71354 Rights in immovable property, even if imperfect or unsupported by perfect legal title, can still constitute a capital asset for tax purposes. A receipt referable to transfer of such rights is treated as capital in nature, and it does not become taxable under the head "Income from other sources" merely because it is not a perfect capital gain under section 45. Mesne profits arise from wrongful possession and are not applicable to consideration received by an owner on transfer of her rights. On that basis, the receipt was treated as attributable to transfer of capital asset rights, with section 54F exemption following. en-us Thu, 31 May 2007 00:00:00 +0530 Wed, 08 Aug 2012 10:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71354 Rights in immovable property, even if imperfect or unsupported by perfect legal title, can still constitute a capital asset for tax purposes. A receipt referable to transfer of such rights is treated as capital in nature, and it does not become taxable under the head "Income from other sources" merely because it is not a perfect capital gain under section 45. Mesne profits arise from wrongful possession and are not applicable to consideration received by an owner on transfer of her rights. On that basis, the receipt was treated as attributable to transfer of capital asset rights, with section 54F exemption following. Case-Laws Income Tax Thu, 31 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71354