https://www.taxtmi.com/caselaws?id=284478 A negotiated land sale, even if preceded by an acquisition notification, does not qualify as a transfer by way of compulsory acquisition for exemption under Section 10(37) of the Income-tax Act, 1961. The exemption applies only where the transfer is by compulsory acquisition and the land is used for agricultural purposes; on those facts, the claim failed. Reference to Section 194LA did not change the taxability of the capital gains arising from the transaction, so the assessee remained liable to tax under the head of capital gains. en-us Thu, 11 Jul 2013 00:00:00 +0530 Thu, 21 Nov 2019 09:51:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284478 A negotiated land sale, even if preceded by an acquisition notification, does not qualify as a transfer by way of compulsory acquisition for exemption under Section 10(37) of the Income-tax Act, 1961. The exemption applies only where the transfer is by compulsory acquisition and the land is used for agricultural purposes; on those facts, the claim failed. Reference to Section 194LA did not change the taxability of the capital gains arising from the transaction, so the assessee remained liable to tax under the head of capital gains. Case-Laws Income Tax Thu, 11 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284478