https://www.taxtmi.com/caselaws?id=55725 Interest paid on compulsory deposits under the Compulsory Deposit Scheme, 1974 was treated as taxable income rather than exempt capital compensation. The decisive principle was that the character of a receipt depends on the nature of the right lost: where the assessee is deprived only of the use of money, the amount received for that deprivation is a revenue receipt. The statutory label attached to the payment was not conclusive, and the constitutional rules on compensation for acquisition or requisition did not govern this scheme. The reference to section 80L also indicated that the amount was intended to be chargeable to tax subject to the specified deduction. en-us Mon, 02 Sep 1985 00:00:00 +0530 Mon, 29 Nov 2010 16:41:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55725 Interest paid on compulsory deposits under the Compulsory Deposit Scheme, 1974 was treated as taxable income rather than exempt capital compensation. The decisive principle was that the character of a receipt depends on the nature of the right lost: where the assessee is deprived only of the use of money, the amount received for that deprivation is a revenue receipt. The statutory label attached to the payment was not conclusive, and the constitutional rules on compensation for acquisition or requisition did not govern this scheme. The reference to section 80L also indicated that the amount was intended to be chargeable to tax subject to the specified deduction. Case-Laws Income Tax Mon, 02 Sep 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55725