https://www.taxtmi.com/caselaws?id=5720 SC upheld the Tribunal's finding that the sum received by the hotel operator was a capital receipt. The operator had an option/right under the original agreement to be offered the property on sale, which it waived by a supplementary agreement with the receiver, who was then free to sell without obliging the purchaser to retain the operator. The consideration was paid for surrendering the purchase/operation right, constituting a loss of a source of income and therefore a capital, not revenue, receipt. en-us Wed, 10 Mar 1999 00:00:00 +0530 Thu, 09 Oct 2025 15:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5720 SC upheld the Tribunal's finding that the sum received by the hotel operator was a capital receipt. The operator had an option/right under the original agreement to be offered the property on sale, which it waived by a supplementary agreement with the receiver, who was then free to sell without obliging the purchaser to retain the operator. The consideration was paid for surrendering the purchase/operation right, constituting a loss of a source of income and therefore a capital, not revenue, receipt. Case-Laws Income Tax Wed, 10 Mar 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5720