https://www.taxtmi.com/caselaws?id=284345 Characterisation of a lump-sum payment under a lease as contractual royalty rather than capital consideration: the 1933 agreement incorporated lease terms including an abandonment clause and expressly imposed liability for royalty on unworked coal; contemporaneous correspondence and the surrender instrument show the payment was accepted as settlement of royalty claims, not as purchase of a termination right. Therefore the lump sum falls within the contractually defined revenue stream and is assessable as income-tax rather than a capital receipt. en-us Thu, 14 Feb 1946 00:00:00 +0530 Wed, 13 Nov 2019 11:40:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284345 Characterisation of a lump-sum payment under a lease as contractual royalty rather than capital consideration: the 1933 agreement incorporated lease terms including an abandonment clause and expressly imposed liability for royalty on unworked coal; contemporaneous correspondence and the surrender instrument show the payment was accepted as settlement of royalty claims, not as purchase of a termination right. Therefore the lump sum falls within the contractually defined revenue stream and is assessable as income-tax rather than a capital receipt. Case-Laws Income Tax Thu, 14 Feb 1946 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284345