https://www.taxtmi.com/caselaws?id=351432 The High Court held that the compensation received for the loss of bottling rights was a capital receipt not subject to tax. It affirmed that the sale proceeds of bottles and crates should be considered part of the block of assets, allowing for depreciation. The court found the Revenue's arguments unconvincing, emphasizing the capital nature of the compensation and rejecting the characterization of sale proceeds as revenue receipts. The Tribunal's decision was upheld, with the court deeming it consistent with established legal principles and free from error. en-us Fri, 17 Nov 2017 00:00:00 +0530 Wed, 10 Jan 2018 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351432 The High Court held that the compensation received for the loss of bottling rights was a capital receipt not subject to tax. It affirmed that the sale proceeds of bottles and crates should be considered part of the block of assets, allowing for depreciation. The court found the Revenue's arguments unconvincing, emphasizing the capital nature of the compensation and rejecting the characterization of sale proceeds as revenue receipts. The Tribunal's decision was upheld, with the court deeming it consistent with established legal principles and free from error. Case-Laws Income Tax Fri, 17 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351432