under the definition "Income" and the same
was a capital receipt which did not contain any element of income
and hence, not chargeable ... since the compensation was
in the nature of a capital receipt received by the petitioner for
diminution/reduction of the value of the FSOPs
capital
receipts not liable to be taxed. The details of which are as
under:-
Interest Income not offered to Tax
Purpose FD Amount Rate ... plant and machinery, such receipts will go to reduce
the cost of its assets. These are receipts of a capital nature and
cannot be taxed
which is sought to be recouped by insurance receipt. Such
receipt can therefore only be a capital receipt. Provision for
making capital asset chargeable ... leasehold right is a capital asset and that the amount
received on its surrender was a capital receipt. But because we have
held that Section
which is sought to be recouped by insurance receipt. Such
receipt can therefore only be a capital receipt. Provision for
making capital asset chargeable ... leasehold right is a capital asset and that the amount
received on its surrender was a capital receipt. But because we have
held that Section
which is sought to be recouped by insurance receipt. Such
receipt can therefore only be a capital receipt. Provision for
making capital asset chargeable ... leasehold right is a capital asset and that the amount
received on its surrender was a capital receipt. But because we have
held that Section
receipt.
(d) Any amount received by the Assessee for incentivising
production would necessarily form part of revenue
receipt and not a part of capital receipt ... capital investment
calculated on the basis of the quantum of investment in capital and,
therefore, receipt of such subsidy was on capital account
which is sought to be recouped by insurance receipt. Such
receipt can therefore only be a capital receipt. Provision for
making capital asset chargeable ... leasehold right is a capital asset and that the amount
received on its surrender was a capital receipt. But because we have
held that Section
receipt.
(d) Any amount received by the Assessee for incentivising
production would necessarily form part of revenue
receipt and not a part of capital receipt ... capital investment
calculated on the basis of the quantum of investment in capital and,
therefore, receipt of such subsidy was on capital account
which is sought to be recouped by insurance receipt. Such
receipt can therefore only be a capital receipt. Provision for
making capital asset chargeable ... leasehold right is a capital asset and that the amount
received on its surrender was a capital receipt. But because we have
held that Section
which is sought to be recouped by insurance receipt. Such
receipt can therefore only be a capital receipt. Provision for
making capital asset chargeable ... leasehold right is a capital asset and that the amount
received on its surrender was a capital receipt. But because we have
held that Section
