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Income Tax - Highlights / Catch Notes

Home Highlights April 2016 Year 2016 This

Exemption u/s 10(37) allowed on compensation received from the ...


High Court Grants Tax Exemption for Surat Land Compensation u/s 10(37) of Income Tax Act.

April 12, 2016

Case Laws     Income Tax     HC

Exemption u/s 10(37) allowed on compensation received from the Surat Municipal Corporation for acquisition of lands - HC

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  1. Compensation received under an award passed by the Land Acquisition Officer u/s 24(1) of the Right to Fair Compensation and Transparency in Land Acquisition,...

  2. Benefit of exemption u/s 10(37) - the exemption provided u/s 96 of the Act is wider in scope than the tax exemption provided in the existing provisions of the Income Tax...

  3. Nature of land - capital gain on sale of land - exemption u/s 10(37) - assessee's agricultural land was compulsorily acquired by following entire procedure prescribed...

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  6. Long term capital gain (LTCG) - compulsory acquisition of land - the said land owned by the assessee is an agricultural land and was used for the purpose of agriculture...

  7. The ITAT ruled that additional compensation received for compulsory acquisition of agricultural land by the Gujarat Government, along with interest component, is exempt...

  8. ITAT upheld the PCIT's revision under section 263, confirming that interest received on enhanced compensation under section 28 of the Land Acquisition Act is taxable...

  9. Receipt of interest on enhanced compensation - Income from other sources - the interest received by the assessee u/s 28 of the Land Acquisition Act, 1984 on enhanced...

  10. Benefit of exemption claimed u/s 10(37) - compulsory acquisition of agricultural land - Since the land of the assessee is situated in the municipality as per the...

  11. The ITAT held that interest received on enhanced compensation for compulsory acquisition of land u/s 28 of the Land Acquisition Act, 1894 is taxable as 'Income from...

  12. Characterization of interest received u/s 28 of the Land Acquisition Act, 1894, as part of enhanced compensation for compulsory acquisition of agricultural land. The key...

  13. This case deals with the taxability of compensation paid to landowners for land acquisition. The court held that u/s 96 of the Right to Fair Compensation and...

  14. Deduction u/s 10(37) - sale of agricultural land - the land was agricultural land and was being used for agricultural operations prior to the date of acquisition during...

  15. Characterization of receipt - interest received by the assessee u/s 28 and 34 of the Land Acquisition Act, 1894 - The Delhi High Court, in a case concerning the...

 

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