Supreme Court · 1971 INSC 209 · Decided 19 August 1971
S. R. Y. Sivaram Prasad Bahadur v. The Commissioner of Income Tax Hyderabad
- Court
- Supreme Court of India
- Citation
- 1971 INSC 209 · [1972] 1 S.C.R. 320
- Case number
- CIVIL APPEAL No. 1309/1968
- Decided
- 19 August 1971
- Bench
- K.S. HEGDE, A.N. GROVER (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
hicome-Tax-Capital and Revenue-Interim payment received under s. 50(2) of Madras Estates (Abolition of Conversion into Ryotwari) A.ct, 28 of 1948 whether capital receipt-Whether in lieu of interest on f'OnJpensation. The assessee was a Hindu Undivided Family. Its estate vested in the State into Ryotwari) Act 1948. It received interim payments under s. 50(2) -0f the Act. The question in the Income-tax proceedings was whether the payment S-O received was a capital or a revenue receipt. The Income-tax Officer and the Appellate Assistant Commissioner held that it was revenue. The
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