https://www.taxtmi.com/caselaws?id=6351 Compensation received for requisition of business premises was treated as revenue, not capital, because it was paid to make good loss of earnings during the requisition period. The business continued, albeit on a reduced scale, from the same premises, and the injury was to the volume of rather than to the profit-making apparatus itself. A receipt in lieu of profits that would otherwise have been earned retains its character as income, and the method used to calculate the compensation does not change that essential nature. Authorities concerning permanent deprivation of an income-yielding asset were distinguished. en-us Tue, 29 Aug 1972 00:00:00 +0530 Tue, 20 Jan 2026 16:57:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6351 Compensation received for requisition of business premises was treated as revenue, not capital, because it was paid to make good loss of earnings during the requisition period. The business continued, albeit on a reduced scale, from the same premises, and the injury was to the volume of rather than to the profit-making apparatus itself. A receipt in lieu of profits that would otherwise have been earned retains its character as income, and the method used to calculate the compensation does not change that essential nature. Authorities concerning permanent deprivation of an income-yielding asset were distinguished. Case-Laws Income Tax Tue, 29 Aug 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6351