https://www.taxtmi.com/caselaws?id=177601 Compensation received for temporary loss of use of a damaged jetty during repairs was treated as revenue rather than capital because it was paid for the taxpayer's inability to use the asset in trade, not for its permanent destruction or disposal. The receipt was viewed as replacing trading profits that would have been earned from ordinary commercial exploitation of the jetty, and the method used to quantify the sum did not change its character. It therefore filled a hole in trading profits and was taxable as a trading receipt. en-us Wed, 14 Dec 1966 00:00:00 +0530 Wed, 13 Jan 2016 12:35:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177601 Compensation received for temporary loss of use of a damaged jetty during repairs was treated as revenue rather than capital because it was paid for the taxpayer's inability to use the asset in trade, not for its permanent destruction or disposal. The receipt was viewed as replacing trading profits that would have been earned from ordinary commercial exploitation of the jetty, and the method used to quantify the sum did not change its character. It therefore filled a hole in trading profits and was taxable as a trading receipt. Case-Laws Income Tax Wed, 14 Dec 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177601