https://www.taxtmi.com/caselaws?id=188525 Amounts received as compensation for the use of money under a partition arrangement were taxable as income and not a capital receipt. The receipt arose because one co-sharer retained money otherwise payable to another while agreeing to make periodic payments with interest; that character made it a periodical monetary return from a definite source, not accretion to capital or damages for wrongful detention. The fact that the payment was ultimately made under an arbitration award did not alter its essential nature. The amount was therefore assessable either as business income or as income from other sources. en-us Fri, 30 Dec 1949 00:00:00 +0530 Sat, 03 Dec 2016 18:47:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188525 Amounts received as compensation for the use of money under a partition arrangement were taxable as income and not a capital receipt. The receipt arose because one co-sharer retained money otherwise payable to another while agreeing to make periodic payments with interest; that character made it a periodical monetary return from a definite source, not accretion to capital or damages for wrongful detention. The fact that the payment was ultimately made under an arbitration award did not alter its essential nature. The amount was therefore assessable either as business income or as income from other sources. Case-Laws Income Tax Fri, 30 Dec 1949 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188525