https://www.taxtmi.com/caselaws?id=28781 Compensation awarded under section 48A of the Land Acquisition Act for delay in making the award was held to be a capital receipt, because it compensated damage caused by delay rather than constituting interest on a quantified sum. The fact that loss of interest was used only as a basis to measure damages did not change the character of the receipt. As it arose from a special statutory provision, was non-recurring, and did not represent business income, loss of profit, or interest in the assessee's hands, it was not taxable as income. en-us Fri, 12 Sep 1980 00:00:00 +0530 Thu, 25 Feb 2010 15:54:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28781 Compensation awarded under section 48A of the Land Acquisition Act for delay in making the award was held to be a capital receipt, because it compensated damage caused by delay rather than constituting interest on a quantified sum. The fact that loss of interest was used only as a basis to measure damages did not change the character of the receipt. As it arose from a special statutory provision, was non-recurring, and did not represent business income, loss of profit, or interest in the assessee's hands, it was not taxable as income. Case-Laws Income Tax Fri, 12 Sep 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28781