https://www.taxtmi.com/caselaws?id=37455 The court held that the annual instalments received by the assessee from both the 2 1/2% U.P. Zamindari Abolition Compensation Bonds and the U.P. Zamindari Abolition Rehabilitation Grant Bonds included an element of income, which was deemed taxable. The court emphasized the commercial perspective of the transactions, indicating the intention of the investments to generate income. The decision favored the revenue, answering both issues in the affirmative. No costs were ordered. en-us Fri, 19 Jan 1979 00:00:00 +0530 Mon, 29 Mar 2010 17:49:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37455 The court held that the annual instalments received by the assessee from both the 2 1/2% U.P. Zamindari Abolition Compensation Bonds and the U.P. Zamindari Abolition Rehabilitation Grant Bonds included an element of income, which was deemed taxable. The court emphasized the commercial perspective of the transactions, indicating the intention of the investments to generate income. The decision favored the revenue, answering both issues in the affirmative. No costs were ordered. Case-Laws Income Tax Fri, 19 Jan 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37455