https://www.taxtmi.com/caselaws?id=8806 Compensation received for requisition of premises was held not to be taxable trading income where the assessee never commenced the intended hotel business. The court found that the later catering activity was only under military directions and not the proposed business under the lease, so the business apparatus was not interrupted in a going concern but prevented from starting at all. As the payment was not for loss of profits of an existing business, it fell as a solatium for disturbance and delay and remained a capital or non-revenue receipt. The amount was therefore not taxable as business profits. en-us Thu, 05 Oct 1972 00:00:00 +0530 Thu, 04 Jun 2009 17:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8806 Compensation received for requisition of premises was held not to be taxable trading income where the assessee never commenced the intended hotel business. The court found that the later catering activity was only under military directions and not the proposed business under the lease, so the business apparatus was not interrupted in a going concern but prevented from starting at all. As the payment was not for loss of profits of an existing business, it fell as a solatium for disturbance and delay and remained a capital or non-revenue receipt. The amount was therefore not taxable as business profits. Case-Laws Income Tax Thu, 05 Oct 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8806