2000 (11) TMI 40

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... lease in favour of the lessee, filed a suit for possession and also damages for use and occupation of the property after termination of the lease. The assessee claimed that the amount awarded by the Court as damages for use and occupation of the property by the lessee after the termination of the lease is in the nature of a capital receipt. That claim was negatived by the AO, by the appellate aut....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....liability to pay compensation for the period for which he had retained possession against the wishes of the lessor. The amount so payable to the owner is the amount payable for the use and occupation of the premises and remains a revenue receipt in the hands of the lessor. The capital asset of the lessor remains in his legal constructive possession during the time when it is occupied by a tenan....