https://www.taxtmi.com/caselaws?id=37634 A payment described as interest, made under a compromise decree to regularise or secure the assessee's right to occupy premises, was held to be capital in character and not deductible as business expenditure. The Tribunal's view that the occupation was illegal was upheld on the incomplete factual record, and the challenge that the legality of occupation had not been separately raised failed because no contrary finding had been recorded. The reference was answered substantially in favour of the Revenue, with the claimed deduction disallowed. en-us Thu, 11 Aug 1977 00:00:00 +0530 Wed, 31 Mar 2010 10:57:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37634 A payment described as interest, made under a compromise decree to regularise or secure the assessee's right to occupy premises, was held to be capital in character and not deductible as business expenditure. The Tribunal's view that the occupation was illegal was upheld on the incomplete factual record, and the challenge that the legality of occupation had not been separately raised failed because no contrary finding had been recorded. The reference was answered substantially in favour of the Revenue, with the claimed deduction disallowed. Case-Laws Income Tax Thu, 11 Aug 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37634