This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Compensation income of land acquisition u/s 96 of Land Acquisition Act is not taxable under income tax
Case Law Details
- Case Name
- DCIT Vs Ganga Developers (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017–18
- Courts
- All ITAT, ITAT Mumbai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
DCIT Vs Ganga Developers (ITAT Mumbai)
ITAT Mumbai held that compensation received in respect of award/ agreement under Section 96 of Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 is not taxable under Income Tax Act, 1961.
Facts-
During assessment proceedings, it was found that assessee has claimed exemption under Section 10(37) of the Income Tax Act of Rs. 69,92,42,974/-. On questioning to the same, assessee submitted copy of Awarded under Section 11 of the Land Acquisition Act, 1984. Assessee relied on Section 96 of Right to Fair C...
Author Info
