https://www.taxtmi.com/caselaws?id=375503 Where land acquisition proceedings under the Land Acquisition Act were invoked, the fact that compensation was settled by agreement and the transfer was executed through a sale deed did not alter the transaction's character from compulsory acquisition to voluntary sale. The operative principle was that negotiated fixation of compensation under acquisition machinery does not defeat exemption where the land otherwise satisfies the statutory conditions. The assessee was therefore entitled to exemption under section 10(37) of the Income-tax Act, and denial of the benefit merely because the compensation was negotiated was not justified. en-us Tue, 05 Feb 2019 00:00:00 +0530 Wed, 20 Feb 2019 06:37:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375503 Where land acquisition proceedings under the Land Acquisition Act were invoked, the fact that compensation was settled by agreement and the transfer was executed through a sale deed did not alter the transaction's character from compulsory acquisition to voluntary sale. The operative principle was that negotiated fixation of compensation under acquisition machinery does not defeat exemption where the land otherwise satisfies the statutory conditions. The assessee was therefore entitled to exemption under section 10(37) of the Income-tax Act, and denial of the benefit merely because the compensation was negotiated was not justified. Case-Laws Income Tax Tue, 05 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375503