https://www.taxtmi.com/caselaws?id=168757 A lump sum paid for the early termination of agreements forming part of a trader's enduring profit-making structure was treated as capital, not income. The agreements were part of the fixed framework within which the business was carried on, so payment for surrendering rights under them amounted to consideration for relinquishing a capital asset rather than trading profit. The fact that the sum was calculated by reference to anticipated future receipts did not change its legal character. The receipt was therefore not chargeable as income under Schedule D. en-us Mon, 08 Apr 1935 00:00:00 +0530 Wed, 25 Mar 2015 15:28:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168757 A lump sum paid for the early termination of agreements forming part of a trader's enduring profit-making structure was treated as capital, not income. The agreements were part of the fixed framework within which the business was carried on, so payment for surrendering rights under them amounted to consideration for relinquishing a capital asset rather than trading profit. The fact that the sum was calculated by reference to anticipated future receipts did not change its legal character. The receipt was therefore not chargeable as income under Schedule D. Case-Laws Income Tax Mon, 08 Apr 1935 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168757