https://www.taxtmi.com/caselaws?id=18806 The court confirmed the capital gain from the transfer of a building to the Defence Department, holding it taxable under section 45 of the Income-tax Act. The compensation received was deemed a capital receipt, resulting in the capital gain. The income from the sale of leechee fruits was not considered agricultural income as the land was within a municipality and not assessed to land revenue. The court denied the exemption for this income from tax. The respondent-Revenue was awarded costs of Rs. 1,000, and a certified copy of the judgment was to be sent to the Registrar of the Appellate Tribunal. en-us Mon, 21 Aug 1995 00:00:00 +0530 Mon, 02 Nov 2009 11:42:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18806 The court confirmed the capital gain from the transfer of a building to the Defence Department, holding it taxable under section 45 of the Income-tax Act. The compensation received was deemed a capital receipt, resulting in the capital gain. The income from the sale of leechee fruits was not considered agricultural income as the land was within a municipality and not assessed to land revenue. The court denied the exemption for this income from tax. The respondent-Revenue was awarded costs of Rs. 1,000, and a certified copy of the judgment was to be sent to the Registrar of the Appellate Tribunal. Case-Laws Income Tax Mon, 21 Aug 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18806