https://www.taxtmi.com/caselaws?id=8835 Jenmikaram under the Kanom Tenancy Act, 1955 was held to be income, not a capital receipt. The Kerala HC reasoned that the statutory scheme extinguished the jenmi's proprietary rights, vested ownership in the kanom-tenant, and substituted the old recurring liabilities with a consolidated annual payment in lieu of all claims of the jenmi. Because jenmikaram was not linked to any quantified capital value of the former interest and was not repayment of capital in instalments, it retained the character of taxable income under the Income-tax Act, 1961. The reference was answered in favour of the Revenue. en-us Thu, 06 Jul 1972 00:00:00 +0530 Tue, 16 Jun 2009 11:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8835 Jenmikaram under the Kanom Tenancy Act, 1955 was held to be income, not a capital receipt. The Kerala HC reasoned that the statutory scheme extinguished the jenmi's proprietary rights, vested ownership in the kanom-tenant, and substituted the old recurring liabilities with a consolidated annual payment in lieu of all claims of the jenmi. Because jenmikaram was not linked to any quantified capital value of the former interest and was not repayment of capital in instalments, it retained the character of taxable income under the Income-tax Act, 1961. The reference was answered in favour of the Revenue. Case-Laws Income Tax Thu, 06 Jul 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8835