https://www.taxtmi.com/caselaws?id=25953 The High Court held that the compensation received for surrendering leasehold rights was of capital nature, emphasizing that the mode of payment in instalments does not determine the nature of the receipt. The Court ruled in favor of the assessee, affirming that the Appellate Assistant Commissioner lacked authority to assess the compensation as capital gains for tax purposes. The parties were directed to bear their own costs. en-us Wed, 29 Jan 1986 00:00:00 +0530 Mon, 01 Feb 2010 18:28:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25953 The High Court held that the compensation received for surrendering leasehold rights was of capital nature, emphasizing that the mode of payment in instalments does not determine the nature of the receipt. The Court ruled in favor of the assessee, affirming that the Appellate Assistant Commissioner lacked authority to assess the compensation as capital gains for tax purposes. The parties were directed to bear their own costs. Case-Laws Income Tax Wed, 29 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25953