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2004 (7) TMI 88 - HC - Income TaxAssessing Officer treating the enhanced compensation received by the assessee as capital gains u/s 45(5)(b) - Revenue, having accepted the claim that the land in question was agricultural land not falling within the definition of "capital asset" in the year when the land was compulsorily acquired, cannot be permitted to treat it as a capital asset in the year in which enhanced compensation has been received. Once the land in question is held to be not a capital asset, the question of additional compensation to be assessed as capital gain under section 45(5) does not arise – Assessee’s appeal allowed – tribunal’s order is set aside
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