Income Tax Exempt on compulsory Agricultural Land Acquisition Awards

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.,

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