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Income Tax Exempt on compulsory Agricultural Land Acquisition Awards
Case Law Details
- Case Name
- Parasnath Vinimay Pvt. Ltd. Vs CPC (ITAT Kolkata)
- 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 Kolkata
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Parasnath Vinimay Pvt. Ltd. Vs CPC (ITAT Kolkata)
Introduction: This article discusses the case of Parasnath Vinimay Pvt. Ltd. vs. CPC (ITAT Kolkata) where the issue at hand is the income tax exemption on an award received for the compulsory acquisition of agricultural land. The Income Tax Appellate Tribunal (ITAT) Kolkata rendered a decision, and we will analyze the arguments and findings in this case.
Analysis: The appellant, Parasnath Vinimay Pvt. Ltd., contested an order by the National Faceless Appeal Centre under the Income Tax Act, 1961. The appeal focused on the treatment of compensati...
