https://www.taxtmi.com/caselaws?id=276473 Interest awarded by decree on refund of estate duty wrongly collected was treated as income because its taxability depended on its real character, not on the label attached to it, and interest on money wrongfully retained is an accretion to capital. The receipt was also not exempt as a casual and non-recurring receipt under section 4(3)(vii) of the Income-tax Act, 1922, because although it was non-recurring, it was not casual: it was a foreseeable result of successful litigation for refund and interest. The receipt was therefore taxable as income and did not qualify for exemption. en-us Mon, 24 Sep 1962 00:00:00 +0530 Mon, 12 Nov 2018 16:45:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276473 Interest awarded by decree on refund of estate duty wrongly collected was treated as income because its taxability depended on its real character, not on the label attached to it, and interest on money wrongfully retained is an accretion to capital. The receipt was also not exempt as a casual and non-recurring receipt under section 4(3)(vii) of the Income-tax Act, 1922, because although it was non-recurring, it was not casual: it was a foreseeable result of successful litigation for refund and interest. The receipt was therefore taxable as income and did not qualify for exemption. Case-Laws Income Tax Mon, 24 Sep 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276473