https://www.taxtmi.com/caselaws?id=49654 Non-recurring salami paid by prospective tenants at the inception of agricultural leases was held to be a capital receipt, not agricultural income. The lump sum was consideration for the landlord parting with rights in agricultural holdings and did not have the recurring character of rent or revenue derived from land. Because it was paid before the landlord-tenant relationship fully arose and was not periodic income, it fell outside the statutory definition in section 2(a)(i) of the Assam Agricultural Income-tax Act, 1939. The assessees therefore succeeded, and the disputed salami receipts remained outside tax as agricultural income. en-us Wed, 24 Apr 1957 00:00:00 +0530 Mon, 08 Sep 2014 08:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49654 Non-recurring salami paid by prospective tenants at the inception of agricultural leases was held to be a capital receipt, not agricultural income. The lump sum was consideration for the landlord parting with rights in agricultural holdings and did not have the recurring character of rent or revenue derived from land. Because it was paid before the landlord-tenant relationship fully arose and was not periodic income, it fell outside the statutory definition in section 2(a)(i) of the Assam Agricultural Income-tax Act, 1939. The assessees therefore succeeded, and the disputed salami receipts remained outside tax as agricultural income. Case-Laws Income Tax Wed, 24 Apr 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49654