https://www.taxtmi.com/caselaws?id=25316 Compensation received for resumption of Jagir proprietary rights was treated as a capital receipt because the right to compensation accrued when the Jagir was resumed, even though quantification and issue of bonds occurred later. The surplus realised on sale of the Jagir bonds therefore retained the character of capital receipt and was assessable as long-term capital gain, not as revenue receipt. The analysis turns on the capital nature of the underlying compensation and the continuation of that character on subsequent sale of the bonds. en-us Fri, 24 Jul 1987 00:00:00 +0530 Wed, 27 Jan 2010 18:24:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25316 Compensation received for resumption of Jagir proprietary rights was treated as a capital receipt because the right to compensation accrued when the Jagir was resumed, even though quantification and issue of bonds occurred later. The surplus realised on sale of the Jagir bonds therefore retained the character of capital receipt and was assessable as long-term capital gain, not as revenue receipt. The analysis turns on the capital nature of the underlying compensation and the continuation of that character on subsequent sale of the bonds. Case-Laws Income Tax Fri, 24 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25316