Case Law Details
Case Name : The Income Tax Officer Vs Sri.Harimurali Sreedhara Panickar (ITAT Cochin)
Appeal Number : ITA No.207/Coch/2017
Date of Judgement/Order : 05/02/2019
Related Assessment Year : 2012-2013
Courts :
All ITAT ITAT Cochin
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
ITO Vs Sri. Harimurali Sreedhara Panickar (ITAT Cochin)
In the instant case, the entire procedure prescribed under the Land Acquisition Act was followed, the only price was fixed upon a negotiated settlement. Therefore, in view of the above judgment of the Hon’ble Apex Court (s
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.
An assessee partnership firm has received compensation for land acquired by state government which as per section 96 of The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 is not liable to income tax. The asset acquired was forming part of stock in trade of the assessee therefore the compensation has been credited to profit and loss account. Please guide how to disclose the same and claim exemption while filing ITR 5 of the firm. Thanks