https://www.taxtmi.com/caselaws?id=284334 Land transferred under duly completed acquisition proceedings retained the character of compulsory acquisition for purposes of section 10(37) exemption. The decisive factor was that the statutory acquisition process under the Land Acquisition Act, 1894 had been invoked and completed, and the later negotiation concerned only the compensation payable. A negotiated fixation of compensation did not convert the acquisition into a voluntary sale. On that basis, exemption from capital gains tax on the acquired agricultural land was available, and the Revenue challenge failed. en-us Tue, 05 Feb 2019 00:00:00 +0530 Tue, 12 Nov 2019 17:48:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284334 Land transferred under duly completed acquisition proceedings retained the character of compulsory acquisition for purposes of section 10(37) exemption. The decisive factor was that the statutory acquisition process under the Land Acquisition Act, 1894 had been invoked and completed, and the later negotiation concerned only the compensation payable. A negotiated fixation of compensation did not convert the acquisition into a voluntary sale. On that basis, exemption from capital gains tax on the acquired agricultural land was available, and the Revenue challenge failed. Case-Laws Income Tax Tue, 05 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284334