https://www.taxtmi.com/caselaws?id=292790 A voluntary lease payment received for temporary non-agricultural use of waste land was treated as assessable income because there was no compulsory acquisition, forcible taking, or conversion of the land's corpus into money, so it was not a capital receipt or compensation. The claim to agricultural-income exemption also failed because the decisive test was the actual use of the land during the relevant accounting period, and the land was not used for agricultural purposes. Both the salami and rent were therefore taxable. en-us Fri, 28 Jan 1949 00:00:00 +0530 Fri, 08 Jan 2021 10:00:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292790 A voluntary lease payment received for temporary non-agricultural use of waste land was treated as assessable income because there was no compulsory acquisition, forcible taking, or conversion of the land's corpus into money, so it was not a capital receipt or compensation. The claim to agricultural-income exemption also failed because the decisive test was the actual use of the land during the relevant accounting period, and the land was not used for agricultural purposes. Both the salami and rent were therefore taxable. Case-Laws Income Tax Fri, 28 Jan 1949 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292790