https://www.taxtmi.com/caselaws?id=289414 Statutory interest payable on delayed compensation for resumption of jagir lands under the Madhya Bharat Abolition of Jagirs Act, 1951 was held to be distinct from the compensation itself because section 8(1) fixed compensation separately while section 8(2) provided simple interest from resumption until payment. The Court treated the interest as consideration for being kept out of money due, not as part of the capital compensation for loss of the jagir. It was therefore characterised as a revenue receipt and taxed under the Income-tax Act, with the reference answered in favour of the Revenue. en-us Tue, 20 Apr 1965 00:00:00 +0530 Wed, 29 Jul 2020 16:01:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289414 Statutory interest payable on delayed compensation for resumption of jagir lands under the Madhya Bharat Abolition of Jagirs Act, 1951 was held to be distinct from the compensation itself because section 8(1) fixed compensation separately while section 8(2) provided simple interest from resumption until payment. The Court treated the interest as consideration for being kept out of money due, not as part of the capital compensation for loss of the jagir. It was therefore characterised as a revenue receipt and taxed under the Income-tax Act, with the reference answered in favour of the Revenue. Case-Laws Income Tax Tue, 20 Apr 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289414