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2017 (7) TMI 1337 - AT - Income TaxClaim for exemption u/s 10(37) denied - whether negotiated sale after acquisition proceedings falls under compulsory acquisition under the Land Acquisition Act? - HELD THAT:- Admittedly, the land was acquired under Land Acquisition Act and additional compensation was received after negotiating and signing the sale deed. When the land was acquired by invoking the provisions of Land Acquisition Act, the dictum laid down by the Hon’ble Apex Court in BALAKRISHNAN VERSUS UNION OF INDIA & ORS [2017 (1) TMI 1380 - SUPREME COURT] will have application to the facts of the case, though the enhanced compensation was paid after negotiating and signing of the sale deed. Further, on perusal of the certificate issued by the revenue authority, it is clear that the impugned land is an agricultural land where agricultural operation was carried on till it was acquired. Therefore, the provisions of section 10(37) has application to the facts of the instant case and the amount received by assessee on acquisition of such land would not be includable in the total income. It is ordered accordingly.
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