https://www.taxtmi.com/caselaws?id=6341 Compensation received on termination of employment following nationalisation of the employer's undertaking was treated as a capital receipt rather than revenue income. The Supreme Court applied earlier decisions holding that such compensation is capital in character because it is paid for loss of the employment source itself, and accordingly it was not taxable as income. The amount was therefore held to be a capital receipt in the assessee's hands. en-us Wed, 11 Aug 1971 00:00:00 +0530 Thu, 04 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6341 Compensation received on termination of employment following nationalisation of the employer's undertaking was treated as a capital receipt rather than revenue income. The Supreme Court applied earlier decisions holding that such compensation is capital in character because it is paid for loss of the employment source itself, and accordingly it was not taxable as income. The amount was therefore held to be a capital receipt in the assessee's hands. Case-Laws Income Tax Wed, 11 Aug 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6341