https://www.taxtmi.com/caselaws?id=39956 Interim payments received by former estate-holders under section 50(2) of the Madras Estates (Abolition and Conversion into Ryotwari) Act, 1948 were treated as compensation linked to the loss of an income-producing capital asset, not as income from the use or withholding of money. The statutory scheme distinguished these payments from the final compensation and from amounts deposited under section 41(1). Because the payments were computed by reference to loss of income from the estates and not by reference to the ultimate compensation, they retained a capital character and were not liable to income-tax. en-us Thu, 19 Aug 1971 00:00:00 +0530 Mon, 11 Apr 2016 17:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39956 Interim payments received by former estate-holders under section 50(2) of the Madras Estates (Abolition and Conversion into Ryotwari) Act, 1948 were treated as compensation linked to the loss of an income-producing capital asset, not as income from the use or withholding of money. The statutory scheme distinguished these payments from the final compensation and from amounts deposited under section 41(1). Because the payments were computed by reference to loss of income from the estates and not by reference to the ultimate compensation, they retained a capital character and were not liable to income-tax. Case-Laws Income Tax Thu, 19 Aug 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39956