https://www.taxtmi.com/caselaws?id=368886 Compulsory acquisition of agricultural land remained eligible for exemption under section 10(37) of the Income-tax Act, 1961, even though the compensation amount was fixed through a negotiated settlement. The acquisition proceedings were undertaken under the Land Acquisition Act for a seaport project, and the fact that the transfer was documented by sale deed did not change its statutory character. Since the land was treated as agricultural and the acquisition process was compulsory in substance, the assessee was entitled to exemption under section 10(37). en-us Wed, 10 Oct 2018 00:00:00 +0530 Tue, 16 Oct 2018 09:49:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368886 Compulsory acquisition of agricultural land remained eligible for exemption under section 10(37) of the Income-tax Act, 1961, even though the compensation amount was fixed through a negotiated settlement. The acquisition proceedings were undertaken under the Land Acquisition Act for a seaport project, and the fact that the transfer was documented by sale deed did not change its statutory character. Since the land was treated as agricultural and the acquisition process was compulsory in substance, the assessee was entitled to exemption under section 10(37). Case-Laws Income Tax Wed, 10 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368886