https://www.taxtmi.com/caselaws?id=9124 Compensation received under a consent decree for loss of business income or custom is a revenue receipt where it does not impair any capital asset or the trading structure. The payment here arose from a damages claim against a former employee and another company and was found to satisfy the claim and costs, not to establish agency in the statutory sense or a payment connected with termination of agency. Even if it compensated loss of custom from one foreign constituent, the receipt remained compensation for loss of profit in ordinary business and was assessable as business income; section 10(5A)(d) did not apply. en-us Tue, 28 Mar 1972 00:00:00 +0530 Fri, 19 Jun 2009 17:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9124 Compensation received under a consent decree for loss of business income or custom is a revenue receipt where it does not impair any capital asset or the trading structure. The payment here arose from a damages claim against a former employee and another company and was found to satisfy the claim and costs, not to establish agency in the statutory sense or a payment connected with termination of agency. Even if it compensated loss of custom from one foreign constituent, the receipt remained compensation for loss of profit in ordinary business and was assessable as business income; section 10(5A)(d) did not apply. Case-Laws Income Tax Tue, 28 Mar 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9124