https://www.taxtmi.com/caselaws?id=277450 A compulsory payment taken at the inception of a land settlement, where it is in substance consideration for permission to enter and enjoy the holding rather than a periodic return from land used for agriculture, is a capital receipt and not agricultural income. The receipt did not satisfy the statutory character of rent or revenue derived from land assessed to land revenue or local rates, because it was a single amount payable in addition to recurring rent and was not shown to be advance rent or a mere present. It therefore fell outside agricultural income-tax liability. en-us Mon, 05 Jan 1953 00:00:00 +0530 Tue, 04 Dec 2018 15:25:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277450 A compulsory payment taken at the inception of a land settlement, where it is in substance consideration for permission to enter and enjoy the holding rather than a periodic return from land used for agriculture, is a capital receipt and not agricultural income. The receipt did not satisfy the statutory character of rent or revenue derived from land assessed to land revenue or local rates, because it was a single amount payable in addition to recurring rent and was not shown to be advance rent or a mere present. It therefore fell outside agricultural income-tax liability. Case-Laws Income Tax Mon, 05 Jan 1953 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277450