https://www.taxtmi.com/caselaws?id=276526 Interim payments received under section 50 of the Madras Estates (Abolition and Conversion into Ryotwari) Act, 1948 were treated as income receipts, not capital receipts. The statutory scheme distinguished these recurring interim payments from compensation for the estate itself: section 50 created a separate mechanism for payments during the period between vesting and final determination, and sub-section (8) made clear they were not part of, or in lieu of, the final compensation under section 41(1). Their character was determined by the Act as a whole, including their periodic and recurring nature and their function during the interim deprivation of estate income. They were therefore liable to tax. en-us Wed, 02 Aug 1967 00:00:00 +0530 Tue, 13 Nov 2018 12:28:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276526 Interim payments received under section 50 of the Madras Estates (Abolition and Conversion into Ryotwari) Act, 1948 were treated as income receipts, not capital receipts. The statutory scheme distinguished these recurring interim payments from compensation for the estate itself: section 50 created a separate mechanism for payments during the period between vesting and final determination, and sub-section (8) made clear they were not part of, or in lieu of, the final compensation under section 41(1). Their character was determined by the Act as a whole, including their periodic and recurring nature and their function during the interim deprivation of estate income. They were therefore liable to tax. Case-Laws Income Tax Wed, 02 Aug 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276526