https://www.taxtmi.com/caselaws?id=23953 The High Court affirmed that the interest amount received by the assessee was a revenue receipt and held that the entire amount, including the interest, was taxable for the assessment year 1975-76. The Court determined that the amount was paid as part of a settlement between the parties and that the right to receive it arose during the relevant accounting period for that year. Consequently, both issues were decided in favor of the Revenue, upholding the taxability of the interest amount in the specified assessment year. en-us Fri, 09 Jun 1989 00:00:00 +0530 Fri, 15 Jan 2010 14:14:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23953 The High Court affirmed that the interest amount received by the assessee was a revenue receipt and held that the entire amount, including the interest, was taxable for the assessment year 1975-76. The Court determined that the amount was paid as part of a settlement between the parties and that the right to receive it arose during the relevant accounting period for that year. Consequently, both issues were decided in favor of the Revenue, upholding the taxability of the interest amount in the specified assessment year. Case-Laws Income Tax Fri, 09 Jun 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23953