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Income Tax - Highlights / Catch Notes

Home Highlights December 2021 Year 2021 This

Exemption from the Income Tax of the compensation received on ...

Income Tax

December 4, 2021

Exemption from the Income Tax of the compensation received on acquisition of land - In the instant case the assessee received compensation for compulsory acquisition of commercial land during the F.Y. 2014-15 which was exempted under section 96 of the RFCTLARR Act, as clarified by the CBDT Circular No. 36/2016 dt. 25/10/2016. - Benefit of exemption allowed - AT

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