https://www.taxtmi.com/caselaws?id=188522 Compensation received from military authorities for use of requisitioned land as a store-yard was treated as taxable income under the Income-tax Act, 1922. The court distinguished cases where compensation sterilises a capital asset or is paid for leaving mineral or other assets unworked, and found that those principles did not apply here. The receipt was also not comparable to damages for wrongful detention of property. Instead, it arose in the course of the assessee's dealings with the land and represented profit derived from it. The amount was therefore held taxable and the reference was answered against the assessee. en-us Fri, 02 Mar 1951 00:00:00 +0530 Sat, 03 Dec 2016 18:36:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188522 Compensation received from military authorities for use of requisitioned land as a store-yard was treated as taxable income under the Income-tax Act, 1922. The court distinguished cases where compensation sterilises a capital asset or is paid for leaving mineral or other assets unworked, and found that those principles did not apply here. The receipt was also not comparable to damages for wrongful detention of property. Instead, it arose in the course of the assessee's dealings with the land and represented profit derived from it. The amount was therefore held taxable and the reference was answered against the assessee. Case-Laws Income Tax Fri, 02 Mar 1951 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188522