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2009 (12) TMI 19 - HC - Income TaxCapital Receipt versus Revenue Receipt – Receipt on account of infringement of copy right - The assessing officer and the first appellate authority as well rejected the contention of the assessee that the said amounts were received as capital receipt. But the Tribunal in second appeals has held that the said amounts are not revenue receipts but are capital income and therefore, not liable to be taxed – held that - . The assessing authority has recorded that assessee's copyright in the relevant books has not been affected and has remained fully intact as capital asset. Certain publishers unauthorisedly infringed the copyright of assessee and the injuries received on account of such publishers have been redressed by paying compensation for the damages caused to the assessee's business of publication. On this factual scenario we are of the view that compensation amount received by the assessee is not towards the loss of capital but is towards the loss of its income
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