https://www.taxtmi.com/caselaws?id=375428 The ITAT ruled that additional compensation from CIDCO is agricultural income and exempt from tax. However, for capital gains on leasehold rights transfer, consideration is market value per stamp duty. Cost of acquisition is date of re-allotment by CIDCO. AO to re-calculate capital gain. Assessed income not lower than returned. Expense deduction to M/s Perfect Associates pending verification. Appeal allowed for statistics. en-us Fri, 21 Dec 2018 00:00:00 +0530 Tue, 19 Feb 2019 07:36:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375428 The ITAT ruled that additional compensation from CIDCO is agricultural income and exempt from tax. However, for capital gains on leasehold rights transfer, consideration is market value per stamp duty. Cost of acquisition is date of re-allotment by CIDCO. AO to re-calculate capital gain. Assessed income not lower than returned. Expense deduction to M/s Perfect Associates pending verification. Appeal allowed for statistics. Case-Laws Income Tax Fri, 21 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375428