https://www.taxtmi.com/caselaws?id=276491 Interest received on delayed payment of compensation for compulsory acquisition was held to be taxable as income because its true character, not its label, governed the assessment. The Court applied the principle that the receipt was a separate revenue item for being kept out of the proper compensation and was not part of the statutory capital compensation under the governing land acquisition scheme. The amount was therefore assessable in the assessee's hands. The apportionment question was not decided on the merits, as the Tribunal had not addressed it after treating the receipt as non-taxable; it was left open for fresh consideration. en-us Mon, 29 Oct 1962 00:00:00 +0530 Tue, 13 Nov 2018 07:46:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276491 Interest received on delayed payment of compensation for compulsory acquisition was held to be taxable as income because its true character, not its label, governed the assessment. The Court applied the principle that the receipt was a separate revenue item for being kept out of the proper compensation and was not part of the statutory capital compensation under the governing land acquisition scheme. The amount was therefore assessable in the assessee's hands. The apportionment question was not decided on the merits, as the Tribunal had not addressed it after treating the receipt as non-taxable; it was left open for fresh consideration. Case-Laws Income Tax Mon, 29 Oct 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276491