https://www.taxtmi.com/caselaws?id=277062 Land acquired under the Land Acquisition Act and later conveyed free from Government land revenue was not treated as land assessed to land revenue for section 2(1)(a) of the Indian Income-tax Act. The earlier revenue-paying estate interest was extinguished on acquisition, and the later payment described as the capitalised value of revenue did not preserve any subsisting assessment; at most it compensated the Government's lost revenue interest or operated as a redemption that ended the assessment. The conveyance expressly transferring the land free and discharged from land revenue confirmed that no relevant assessment survived, so the exemption was unavailable. en-us Tue, 15 May 1956 00:00:00 +0530 Fri, 23 Nov 2018 12:58:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277062 Land acquired under the Land Acquisition Act and later conveyed free from Government land revenue was not treated as land assessed to land revenue for section 2(1)(a) of the Indian Income-tax Act. The earlier revenue-paying estate interest was extinguished on acquisition, and the later payment described as the capitalised value of revenue did not preserve any subsisting assessment; at most it compensated the Government's lost revenue interest or operated as a redemption that ended the assessment. The conveyance expressly transferring the land free and discharged from land revenue confirmed that no relevant assessment survived, so the exemption was unavailable. Case-Laws Income Tax Tue, 15 May 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277062