https://www.taxtmi.com/caselaws?id=49430 A lump-sum payment received for surrendering an entitlement to future per-ton profits was treated as the capitalised value of ongoing profit streams and not as proceeds from transfer of a distinct capital asset; labelling the payment as "goodwill" did not change its character. Because the transaction left the underlying quota rights intact and the payment arose from the assessee's continuing commercial arrangement, the sum constitutes a realised business receipt of revenue character and is therefore taxable as income. en-us Thu, 03 May 1962 00:00:00 +0530 Wed, 27 Aug 2014 10:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49430 A lump-sum payment received for surrendering an entitlement to future per-ton profits was treated as the capitalised value of ongoing profit streams and not as proceeds from transfer of a distinct capital asset; labelling the payment as "goodwill" did not change its character. Because the transaction left the underlying quota rights intact and the payment arose from the assessee's continuing commercial arrangement, the sum constitutes a realised business receipt of revenue character and is therefore taxable as income. Case-Laws Income Tax Thu, 03 May 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49430