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of <h1>Petitioner's Capital Gains Tax Liability Upheld on Land Sale</h1> <h3>Balakrishnan S/o. Unneri Versus Union of India rep by Secretary (Finance Department) New Delhi, Joint Commissioner (Income Tax Range-1) Thiruvananthapuram, Income Tax Officer (Ward No 1 (1) Kawdiar) Thiruvananthapuram, Special Tahsildar (LA) Thiruvananthapuram</h3> The petitioner was held liable to pay income tax on capital gains from a negotiated sale transaction following a land acquisition notification. The claim ... - The judgment states that the petitioner is liable to pay income tax under the head 'capital gains' for a negotiated sale transaction after a land acquisition notification. The claim for exemption under Section 10(37) of the Income Tax Act, 1961 was denied. The Writ Petition was dismissed.
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