https://www.taxtmi.com/caselaws?id=28778 The court concluded that the excess amount of Rs. 1,14,710 received by the assessee was assessable to tax as business profit. The court held that the sum represented compensation for goods lost, being the price of the stock-in-trade, thus constituting a revenue receipt. The court referenced judicial precedents and determined that the excess amount should be taxed as business profit, rejecting the argument that it should be treated as capital gains. en-us Tue, 02 Mar 1982 00:00:00 +0530 Thu, 25 Feb 2010 15:47:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28778 The court concluded that the excess amount of Rs. 1,14,710 received by the assessee was assessable to tax as business profit. The court held that the sum represented compensation for goods lost, being the price of the stock-in-trade, thus constituting a revenue receipt. The court referenced judicial precedents and determined that the excess amount should be taxed as business profit, rejecting the argument that it should be treated as capital gains. Case-Laws Income Tax Tue, 02 Mar 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28778