https://www.taxtmi.com/caselaws?id=65887 Compensation received on compulsory acquisition was held chargeable to capital gains because the land was found, on the facts, to be non-agricultural and therefore a capital asset. The Tribunal relied on the absence of land revenue payment, the absence of agricultural operations, conversion of neighbouring lands into plots, and the land's location within eight kilometres of municipal limits. It further held that an earlier notification could not control the acquisition because it had been quashed and was non est; the later notification and subsequent proceedings governed the acquisition. As the compensation was received during the accounting year relevant to assessment year 1978-79, the assessment in that year was upheld. en-us Fri, 24 Feb 1995 00:00:00 +0530 Sat, 19 Feb 2011 10:59:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65887 Compensation received on compulsory acquisition was held chargeable to capital gains because the land was found, on the facts, to be non-agricultural and therefore a capital asset. The Tribunal relied on the absence of land revenue payment, the absence of agricultural operations, conversion of neighbouring lands into plots, and the land's location within eight kilometres of municipal limits. It further held that an earlier notification could not control the acquisition because it had been quashed and was non est; the later notification and subsequent proceedings governed the acquisition. As the compensation was received during the accounting year relevant to assessment year 1978-79, the assessment in that year was upheld. Case-Laws Income Tax Fri, 24 Feb 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65887