https://www.taxtmi.com/caselaws?id=276705 A receipt arising from delayed payment of money was treated as interest on the use and detention of the principal, not as damages for wrongful detention of property. The court distinguished authorities dealing with compensation for wrongful detention and held that those principles did not apply where the amount was fixed as interest on an unpaid sum. On that basis, the receipt was assessable as income and not excluded merely because it was described as interest payable on delayed payment. en-us Fri, 30 Jul 1943 00:00:00 +0630 Fri, 16 Nov 2018 11:01:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276705 A receipt arising from delayed payment of money was treated as interest on the use and detention of the principal, not as damages for wrongful detention of property. The court distinguished authorities dealing with compensation for wrongful detention and held that those principles did not apply where the amount was fixed as interest on an unpaid sum. On that basis, the receipt was assessable as income and not excluded merely because it was described as interest payable on delayed payment. Case-Laws Income Tax Fri, 30 Jul 1943 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=276705