https://www.taxtmi.com/article/detailed?id=1439 The tribunal held that interest awarded by the High Court constituted non statutory interest in the nature of damages/compensation and therefore was not taxable, characterising the receipt as a capital receipt; appellate authorities must consider legal entitlement to exemption even where an assessee has voluntarily included the amount in a return, since tax requires legal authority. en-us Tue, 27 Sep 2011 23:56:22 +0530 Tue, 27 Sep 2011 23:56:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1439 The tribunal held that interest awarded by the High Court constituted non statutory interest in the nature of damages/compensation and therefore was not taxable, characterising the receipt as a capital receipt; appellate authorities must consider legal entitlement to exemption even where an assessee has voluntarily included the amount in a return, since tax requires legal authority. Articles Income Tax Tue, 27 Sep 2011 23:56:22 +0530 https://www.taxtmi.com/article/detailed?id=1439