https://www.taxtmi.com/highlights?id=63280 Characterization of receipt - in respect of business exigencies the compensation specially in respect of damage to properties through fire or any other activities, the businessman ensures his business equipment as well as assets. While claiming the compensation, the assessee was very well aware about the business loss and has given a treatment of the receipts as revenue receipts. Thus, the colour of the receipts in respect of the interest received on compensation amounts to a revenue receipt - AT en-us Thu, 05 May 2022 08:34:51 +0530 Thu, 05 May 2022 08:34:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=63280 Characterization of receipt - in respect of business exigencies the compensation specially in respect of damage to properties through fire or any other activities, the businessman ensures his business equipment as well as assets. While claiming the compensation, the assessee was very well aware about the business loss and has given a treatment of the receipts as revenue receipts. Thus, the colour of the receipts in respect of the interest received on compensation amounts to a revenue receipt - AT Highlights Income Tax Thu, 05 May 2022 08:34:51 +0530 https://www.taxtmi.com/highlights?id=63280