Mere Price negotiation do not change nature of compulsory acquisition of urban agricultural land

Smt. Girijakumari M. Vs ITO (ITAT Cochi)

Compensation for compulsory acquisition of urban agricultural land eligible for section 10(37) benefit

The assessee’s 70 cents of land at Vizhinjam Village was notified for compulsory acquisition by Government of Kerala for developing Vizhinjam International Seaport. Though the acquisition proceedings were taken under the Land Acquisition Act, the final price was fixed upon negotiated sale agreement. The Assessing Officer has allowed the claim of the assessee for deducti

Please become a Premium member. If you are already a Premium member, login here to access the full content.