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2022 (4) TMI 89 - ITAT CHANDIGARHLong Term Capital Gain - compensation received on account of compulsory acquisition of land on National Highway-64 covered under RFCTLARR Act - HELD THAT:- As relying on SHRI SATISH KUMAR, SMT. URMILA GARG C/O SNAGRUR SURGICAL AND LAPROSCOPE CENTRE VERSUS THE ITO WARD SANGRUR, SANGRUR [2021 (12) TMI 161 - ITAT CHANDIGARH] assessee received compensation for compulsory acquisition of commercial land during the F.Y. 2014-15 which was exempted under section 96 of the RFCTLARR Act, as clarified by the CBDT Circular No. 36/2016 dt. 25/10/2016. CIT(A) was not justified in confirming the action of the A.O. in not accepting the claim of the assessee for exemption of the compensation received on compulsory acquisition of land acquired by the Land Acquisition Officer from Income Tax. Accordingly the appeal of the assessee is allowed.
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