https://www.taxtmi.com/caselaws?id=26365 The High Court of Bombay determined that the receipt of Rs. 37,500 on termination of a tenancy agreement was of a capital nature, not revenue. The Court found that the tenancy was intended as part of the profit-making apparatus and a capital asset, not for trading purposes. The assessee's actions indicated a business interest in the tenancy, leading to the conclusion that the agreement was made in the course of business. The Court ruled in favor of the assessee, directing the Revenue to pay the costs of the reference. en-us Fri, 04 Oct 1985 00:00:00 +0530 Thu, 04 Feb 2010 15:03:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26365 The High Court of Bombay determined that the receipt of Rs. 37,500 on termination of a tenancy agreement was of a capital nature, not revenue. The Court found that the tenancy was intended as part of the profit-making apparatus and a capital asset, not for trading purposes. The assessee's actions indicated a business interest in the tenancy, leading to the conclusion that the agreement was made in the course of business. The Court ruled in favor of the assessee, directing the Revenue to pay the costs of the reference. Case-Laws Income Tax Fri, 04 Oct 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26365