https://www.taxtmi.com/caselaws?id=21250 The High Court of Orissa held that interest received by an assessee in relation to an arbitration award is of capital nature and not taxable as a revenue receipt. The judgment favored the assessee, following the precedent set in Govinda Choudhury and Sons v. CIT [1977] 109 ITR 497. Judge D. M. Patnaik concurred with the decision, and the reference was disposed of with no costs. en-us Mon, 13 Jul 1992 00:00:00 +0530 Sat, 21 Nov 2009 10:48:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21250 The High Court of Orissa held that interest received by an assessee in relation to an arbitration award is of capital nature and not taxable as a revenue receipt. The judgment favored the assessee, following the precedent set in Govinda Choudhury and Sons v. CIT [1977] 109 ITR 497. Judge D. M. Patnaik concurred with the decision, and the reference was disposed of with no costs. Case-Laws Income Tax Mon, 13 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21250