https://www.taxtmi.com/caselaws?id=8099 Compensation received for acquisition of part of a leasehold land was held to be a capital receipt because it arose from the character of the asset and the lease arrangement, not from any trade or commercial adventure. The receipt was linked to the lessee's continuing liability to pay full rent despite loss of part of the land, and the record did not show it as business profit or as revenue derived from trading in compensation. It was therefore not taxable as revenue income. en-us Mon, 27 Apr 1970 00:00:00 +0530 Sat, 28 Mar 2009 12:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8099 Compensation received for acquisition of part of a leasehold land was held to be a capital receipt because it arose from the character of the asset and the lease arrangement, not from any trade or commercial adventure. The receipt was linked to the lessee's continuing liability to pay full rent despite loss of part of the land, and the record did not show it as business profit or as revenue derived from trading in compensation. It was therefore not taxable as revenue income. Case-Laws Income Tax Mon, 27 Apr 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8099