https://www.taxtmi.com/caselaws?id=369469 Section 10(37) exemption remained available where agricultural land was acquired through proceedings under the Land Acquisition Act, 1894, even though compensation was settled by negotiated sale deed. The controlling principle was that once acquisition proceedings are duly initiated and the statutory procedure is followed, a negotiated settlement on compensation does not change the character of the transaction into a voluntary sale. On the stated facts, the land was urban agricultural land and the acquisition process had been followed, so the capital gains exemption could not be denied on the ground of negotiated transfer. en-us Wed, 24 Oct 2018 00:00:00 +0530 Sun, 28 Oct 2018 21:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369469 Section 10(37) exemption remained available where agricultural land was acquired through proceedings under the Land Acquisition Act, 1894, even though compensation was settled by negotiated sale deed. The controlling principle was that once acquisition proceedings are duly initiated and the statutory procedure is followed, a negotiated settlement on compensation does not change the character of the transaction into a voluntary sale. On the stated facts, the land was urban agricultural land and the acquisition process had been followed, so the capital gains exemption could not be denied on the ground of negotiated transfer. Case-Laws Income Tax Wed, 24 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369469