https://www.taxtmi.com/caselaws?id=8171 Value received by a lessor on expiry of a lease for a building erected by the tenant was treated as a capital receipt, not taxable as income. The monthly rent was found to be normal rent for the land, with no evidence that it represented reduced or deferred rent for the building. As the tenant had constructed the building largely for its own purposes, the lessor's acquisition of the building on lease termination was an accretion to capital and did not constitute revenue receipt in the lessor's hands. en-us Tue, 10 Feb 1970 00:00:00 +0530 Tue, 31 Mar 2009 17:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8171 Value received by a lessor on expiry of a lease for a building erected by the tenant was treated as a capital receipt, not taxable as income. The monthly rent was found to be normal rent for the land, with no evidence that it represented reduced or deferred rent for the building. As the tenant had constructed the building largely for its own purposes, the lessor's acquisition of the building on lease termination was an accretion to capital and did not constitute revenue receipt in the lessor's hands. Case-Laws Income Tax Tue, 10 Feb 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8171