https://www.taxtmi.com/caselaws?id=28803 Compensation received on compulsory acquisition of business premises, where the assessee was permanently dispossessed and the business ceased, was held not to be a taxable revenue receipt. The court reasoned that a receipt linked to the cessation of business is not generated by carrying on that business during the relevant year and therefore does not take on the character of income liable to tax. The compensation was accordingly treated as capital in nature and not assessable as revenue receipt. en-us Thu, 11 Nov 1982 00:00:00 +0530 Thu, 25 Feb 2010 17:39:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28803 Compensation received on compulsory acquisition of business premises, where the assessee was permanently dispossessed and the business ceased, was held not to be a taxable revenue receipt. The court reasoned that a receipt linked to the cessation of business is not generated by carrying on that business during the relevant year and therefore does not take on the character of income liable to tax. The compensation was accordingly treated as capital in nature and not assessable as revenue receipt. Case-Laws Income Tax Thu, 11 Nov 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28803