https://www.taxtmi.com/caselaws?id=57738 For capital gains valuation, the property's 1 January 1964 value was estimated on the land-and-building basis rather than rent capitalisation because the concessional rent did not provide a reliable indicator of market value; the adopted valuation was revised to Rs. 1,13,306. Mesne profits received under a compromise decree were treated as compensation for wrongful possession and deprivation of use of property, not as a fresh revenue receipt taxable as income from other sources, particularly where the amount was already reflected in rental income taxed on accrual basis. The addition of Rs. 36,400 was therefore deleted. en-us Mon, 25 Sep 1989 00:00:00 +0530 Mon, 13 Dec 2010 12:04:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57738 For capital gains valuation, the property's 1 January 1964 value was estimated on the land-and-building basis rather than rent capitalisation because the concessional rent did not provide a reliable indicator of market value; the adopted valuation was revised to Rs. 1,13,306. Mesne profits received under a compromise decree were treated as compensation for wrongful possession and deprivation of use of property, not as a fresh revenue receipt taxable as income from other sources, particularly where the amount was already reflected in rental income taxed on accrual basis. The addition of Rs. 36,400 was therefore deleted. Case-Laws Income Tax Mon, 25 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57738