https://www.taxtmi.com/caselaws?id=172466 A settlement was treated as a permanent lease because the kabuliyat granted rights for an indefinite period, made those rights descendible to heirs and legal representatives, and described the land as a mokarari settlement for construction of a gola house and rice-mill platform. The lump sum salami received on that grant was held to be capital in nature, since it was a single premium paid once for all and represented the price of parting with a substantial interest in land rather than recurring rent or advance income. Applying the distinction between premium and rent, the receipt was found not taxable as income, and the reference was answered in favour of the assessee. en-us Fri, 25 Aug 1939 00:00:00 +0530 Sat, 22 Aug 2015 10:13:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172466 A settlement was treated as a permanent lease because the kabuliyat granted rights for an indefinite period, made those rights descendible to heirs and legal representatives, and described the land as a mokarari settlement for construction of a gola house and rice-mill platform. The lump sum salami received on that grant was held to be capital in nature, since it was a single premium paid once for all and represented the price of parting with a substantial interest in land rather than recurring rent or advance income. Applying the distinction between premium and rent, the receipt was found not taxable as income, and the reference was answered in favour of the assessee. Case-Laws Income Tax Fri, 25 Aug 1939 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172466