https://www.taxtmi.com/caselaws?id=151725 Mesne profits paid for wrongful deprivation of possession and enjoyment of immovable property were treated as compensation for injury to capital, not as revenue income from use of property, and therefore not chargeable to tax. The note also states that where competing judicial views exist, the interpretation favourable to the assessee prevails. On the precedent issue, the Supreme Court decision in P. Mariappa Gounder was confined to the year of taxability and did not decide the character of mesne profits as capital or revenue; a judgment binds only on the precise issue actually decided. Interest up to the date of decree was treated as part of the capital compensation, while later interest was revenue in nature. en-us Wed, 20 Feb 2008 00:00:00 +0530 Wed, 17 Apr 2024 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151725 Mesne profits paid for wrongful deprivation of possession and enjoyment of immovable property were treated as compensation for injury to capital, not as revenue income from use of property, and therefore not chargeable to tax. The note also states that where competing judicial views exist, the interpretation favourable to the assessee prevails. On the precedent issue, the Supreme Court decision in P. Mariappa Gounder was confined to the year of taxability and did not decide the character of mesne profits as capital or revenue; a judgment binds only on the precise issue actually decided. Interest up to the date of decree was treated as part of the capital compensation, while later interest was revenue in nature. Case-Laws Income Tax Wed, 20 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151725