https://www.taxtmi.com/caselaws?id=8036 Compulsory acquisition is treated as a transfer by operation of law for capital gains purposes because statutory vesting of ownership, title and interest in the State falls within the widest meaning of "transfer". Solatium paid on compulsory acquisition forms part of the compensation for the capital asset and is includible in computing capital gains as part of the consideration received. Compensation for loss of contracts and loss of profits retains the character of a revenue receipt where it is referable to business profits rather than sterilisation of a capital asset, and is taxable as income. en-us Thu, 10 Sep 1970 00:00:00 +0530 Tue, 05 May 2015 12:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8036 Compulsory acquisition is treated as a transfer by operation of law for capital gains purposes because statutory vesting of ownership, title and interest in the State falls within the widest meaning of "transfer". Solatium paid on compulsory acquisition forms part of the compensation for the capital asset and is includible in computing capital gains as part of the consideration received. Compensation for loss of contracts and loss of profits retains the character of a revenue receipt where it is referable to business profits rather than sterilisation of a capital asset, and is taxable as income. Case-Laws Income Tax Thu, 10 Sep 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8036