9911796707
TMI Blog2024 (8) TMI 883X X X X Extracts X X X X X X X X Extracts X X X X ..... v. with Mr. Asif, Adv. For the Respondent(s) Through: Mr. T. M. Shamsi, DSGI for R. No. 1 Mr. Umar Rashid, Adv. for Rs 2 to 4. ORDER 1. The short grievance projected by the petitioner in this petition is that the petitioner-company received a compensation of Rs. 09,18,95,776/- (Rupees Nine Crores Eighteen lacs Ninety Five Thousand Seven Hundred and Seventy Six) in terms of an award passed by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an award passed under Land Acquisition Act, 2013, is not exigible to income tax under the Income Tax Act, 1961. Section 96 of the Land Acquisition Act, 2013 which deals with the issue reads thus; "96. Exemption from Income Tax, Stamp Duty and Fees-No Income Tax or Stamp duty shall be levied on any award or agreement made under this Act, except under Section 46 and no person claiming under any s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ewed from any angle, the apprehension raised by the petitioner in this petition is without any substance. The legal position is amply clear that any compensation received by a person under an award passed in terms of the Provisions of Land Acquisition Act, 2013 is exempted from payment of income tax except the amount received in reference to Section 46. 7. Learned counsel for the petitioner has n ..... X X X X Extracts X X X X X X X X Extracts X X X X
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