https://www.taxtmi.com/caselaws?id=70323 Compensation for statutory requisition of land and building was held not taxable as capital gains or as income because requisition under the West Bengal Land (Requisition and Acquisition) Act, 1948 only placed the property under State control and did not amount to a transfer of ownership or rights in property. The payment was confined to loss of use and enjoyment, so it fell outside section 45(5) and outside the charging provisions generally. Litigation s relating to enhanced compensation were allowed only on a proportionate basis where the proceedings covered both taxable acquisition compensation and non-taxable requisition compensation, with expenditure linked to the non-taxable component excluded. en-us Fri, 27 Mar 2009 00:00:00 +0530 Wed, 05 Jun 2013 17:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70323 Compensation for statutory requisition of land and building was held not taxable as capital gains or as income because requisition under the West Bengal Land (Requisition and Acquisition) Act, 1948 only placed the property under State control and did not amount to a transfer of ownership or rights in property. The payment was confined to loss of use and enjoyment, so it fell outside section 45(5) and outside the charging provisions generally. Litigation s relating to enhanced compensation were allowed only on a proportionate basis where the proceedings covered both taxable acquisition compensation and non-taxable requisition compensation, with expenditure linked to the non-taxable component excluded. Case-Laws Income Tax Fri, 27 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70323