https://www.taxtmi.com/caselaws?id=250164 Acquisition of land by mutual agreement under the Chhattisgarh Nagar Tatha Gram Nivesh Adhiniyam, 1973 is not compulsory acquisition because the owner can negotiate the price and the transfer is not fixed by statute or statutory principles. Section 194 LA of the Income-tax Act, 1961 applies only where compensation is paid on compulsory acquisition of immovable property, so it does not cover an agreed transfer. The agreed notification did not alter the consensual character of the transaction. The result is that the transaction was a contractual purchase, not a statutory acquisition attracting tax deduction at source. en-us Fri, 11 Jul 2014 00:00:00 +0530 Tue, 05 Aug 2014 01:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250164 Acquisition of land by mutual agreement under the Chhattisgarh Nagar Tatha Gram Nivesh Adhiniyam, 1973 is not compulsory acquisition because the owner can negotiate the price and the transfer is not fixed by statute or statutory principles. Section 194 LA of the Income-tax Act, 1961 applies only where compensation is paid on compulsory acquisition of immovable property, so it does not cover an agreed transfer. The agreed notification did not alter the consensual character of the transaction. The result is that the transaction was a contractual purchase, not a statutory acquisition attracting tax deduction at source. Case-Laws Income Tax Fri, 11 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250164