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2023 (1) TMI 625 - AT - Income TaxBenefit of exemption claimed u/s 10(37) - compulsory acquisition of agricultural land of the assessee under the Land Acquisition Act - population of Village - understanding the language “not less than 10,000” - AO was of the opinion that the said land bearing address at Village Jasola, Delhi was situated within the jurisdiction of municipality, therefore, as per section 2(14) (iii) of the Act, exemption u/s 10(37) of the Act is not applicable in this case - HELD THAT:- It is true that what is mentioned in the provisions of section 2(14) (iii) of the Act is that the population of the municipality should be more than 10,000. But what is important is the context in which clause (a) is inserted. Provisions define ‘agricultural land’ in India as not being a land situated in any Municipality/Cantonment having population of 10,000 and above. Since the land of the assessee is situated in the municipality as per the certificate and population is more than 10,000, then it is not an agricultural land referred to in Section 10(37) of the Act for the simple reason that it is situated in a municipality/cantonment where it is not considered as agricultural land as per provisions of section 2(14) (iiia) of the Act. In our considered opinion, interpretation given by the ld. counsel for the assessee is erroneous and not acceptable.
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