Section 54D exemption: capital gain on compulsory acquisition of industrial land/building applies if used in business for two years.

Exemption under Section 54D applies to capital gains from compulsory acquisition of land or building forming part of an industrial undertaking, provided the asset was used by the assessee for the industrial undertaking's business for two years before the date of compulsory acquisition; both short-term and long-term capital assets qualify.

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