Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
The HC held that the Ministry's 2015 order brings enactments in the Fourth Schedule within the RFCTLARR Act for purposes of determination of compensation, rehabilitation, resettlement and related amenities; consequently compensation awarded by the acquiring authority under the National Highways Act, 1956 is governed by the RFCTLARR Act. Pursuant to Section 103, RFCTLARR Act operates in addition to other laws, and beneficiaries of compensation are entitled to the statutory benefits under Section 96, including exemption from income tax, stamp duty and fees. The substantial question of law is answered for the assessee and against the revenue: compensation received for acquired land is not exigible to tax.
The HC held that the Ministry's 2015 order brings enactments in the Fourth Schedule within the RFCTLARR Act for purposes of determination of compensation, rehabilitation, resettlement and related amenities; consequently compensation awarded by the acquiring authority under the National Highways Act, 1956 is governed by the RFCTLARR Act. Pursuant to Section 103, RFCTLARR Act operates in addition to other laws, and beneficiaries of compensation are entitled to the statutory benefits under Section 96, including exemption from income tax, stamp duty and fees. The substantial question of law is answered for the assessee and against the revenue: compensation received for acquired land is not exigible to tax.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
