https://www.taxtmi.com/caselaws?id=20689 The court held that the compensation of Rs. 60,000 for loss of earnings from a brick manufacturing business was not a revenue receipt as it was for the forced closure of the business due to land acquisition. The compensation for readymade earth was considered a revenue receipt. Only the interest accrued in the relevant year was taxable, not the entire amount. The rulings favored the assessee on the first and third questions and the Revenue on the second question. en-us Tue, 17 Apr 1990 00:00:00 +0530 Mon, 16 Nov 2009 15:51:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20689 The court held that the compensation of Rs. 60,000 for loss of earnings from a brick manufacturing business was not a revenue receipt as it was for the forced closure of the business due to land acquisition. The compensation for readymade earth was considered a revenue receipt. Only the interest accrued in the relevant year was taxable, not the entire amount. The rulings favored the assessee on the first and third questions and the Revenue on the second question. Case-Laws Income Tax Tue, 17 Apr 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20689