https://www.taxtmi.com/caselaws?id=176661 The ITAT allowed the assessee's appeal against the order of CIT(A)-II, Surat, regarding the taxability of compensation received for granting the right of user of agricultural land for laying out pipelines. The ITAT held that since there was no transfer of capital assets to the company laying the pipelines, the compensation received was not subject to capital gains tax as per the Income Tax Act. Therefore, the order of the CIT(A) was partly modified, ruling that the compensation is a capital receipt not chargeable to tax. en-us Fri, 30 Jul 2010 00:00:00 +0530 Sat, 26 Dec 2015 11:02:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176661 The ITAT allowed the assessee's appeal against the order of CIT(A)-II, Surat, regarding the taxability of compensation received for granting the right of user of agricultural land for laying out pipelines. The ITAT held that since there was no transfer of capital assets to the company laying the pipelines, the compensation received was not subject to capital gains tax as per the Income Tax Act. Therefore, the order of the CIT(A) was partly modified, ruling that the compensation is a capital receipt not chargeable to tax. Case-Laws Income Tax Fri, 30 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176661