https://www.taxtmi.com/caselaws?id=191797 Refund of licence fee previously allowed as a business deduction was treated as a revenue receipt when received in a later year, because the original payment had already been deducted in computing business profits. The subsequent recoupment retained the character of a business-related gain and was therefore includible in taxable income in the year of receipt, rather than being treated as capital in nature. The issue was answered against the assessee and in favour of the Revenue. en-us Tue, 04 Aug 1959 00:00:00 +0530 Sat, 22 Apr 2017 13:57:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191797 Refund of licence fee previously allowed as a business deduction was treated as a revenue receipt when received in a later year, because the original payment had already been deducted in computing business profits. The subsequent recoupment retained the character of a business-related gain and was therefore includible in taxable income in the year of receipt, rather than being treated as capital in nature. The issue was answered against the assessee and in favour of the Revenue. Case-Laws Income Tax Tue, 04 Aug 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191797