https://www.taxtmi.com/caselaws?id=19519 Interest awarded on enhanced compensation for requisitioned property was held to retain the character of the underlying receipt. Because the periodic compensation under the requisition scheme was revenue in nature, the additional sum described as interest did not become a capital receipt merely by that label. The statutory framework contained no provision for interest on delayed compensation, and there was no contractual basis for such payment; nor was there a finding that the amount represented damages. The amount was therefore taxable as income from other sources rather than an ex gratia capital payment. en-us Mon, 16 Apr 1990 00:00:00 +0530 Fri, 06 Nov 2009 16:47:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19519 Interest awarded on enhanced compensation for requisitioned property was held to retain the character of the underlying receipt. Because the periodic compensation under the requisition scheme was revenue in nature, the additional sum described as interest did not become a capital receipt merely by that label. The statutory framework contained no provision for interest on delayed compensation, and there was no contractual basis for such payment; nor was there a finding that the amount represented damages. The amount was therefore taxable as income from other sources rather than an ex gratia capital payment. Case-Laws Income Tax Mon, 16 Apr 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19519