https://www.taxtmi.com/caselaws?id=276912 A receipt under a deed of assignment was treated as revenue income because the transaction had to be viewed as a whole from a business and accountancy perspective. The arrangement was not an outright sale for a fixed gross sum, and no capital sum was contemplated or ascertainable. Instead, the consideration depended on a share of profits, a share of royalty, and payments linked to cement sold, all connected with the transferee's trading activity. As the assessee continued its business and turned its assets to account for business purposes, the resulting periodic receipts were held to be of an income character and assessable as revenue receipt. en-us Thu, 22 Dec 1955 00:00:00 +0530 Tue, 20 Nov 2018 12:36:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276912 A receipt under a deed of assignment was treated as revenue income because the transaction had to be viewed as a whole from a business and accountancy perspective. The arrangement was not an outright sale for a fixed gross sum, and no capital sum was contemplated or ascertainable. Instead, the consideration depended on a share of profits, a share of royalty, and payments linked to cement sold, all connected with the transferee's trading activity. As the assessee continued its business and turned its assets to account for business purposes, the resulting periodic receipts were held to be of an income character and assessable as revenue receipt. Case-Laws Income Tax Thu, 22 Dec 1955 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276912