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<h1>Section 54D: Tax Exemption for Capital Gains on Compulsory Land/Building Acquisition in Industrial Use for Two Years</h1> The exemption under Section 54D of the Income Tax Act applies to capital gains from the compulsory acquisition of land or buildings used in an industrial undertaking. To qualify, the land or building must have been used by the assessee for business purposes for at least two years prior to acquisition. Both short-term and long-term capital assets are eligible for this exemption.