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Case Law Details

Case Name : Col. Jaspal Singh Vs. ITO (ITAT Delhi)
Related Assessment Year : 2012- 13
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If the interest is paid for deprivation of use of money fallen due to them it is revenue receipt chargeable to lax. On the other hand, if the interest is paid on account of the injury to the capital i.e.. deprivation of use and occupation of the property then it is capital receipt not chargeable to lax. In the present case, it has already been held by us that mesne profit was f or deprivation of use and occupation of the property. The interest received by the assessee is also for the same period as it is awarded up to the date of decree. The money has become due on the date of decree. Accor

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