https://www.taxtmi.com/caselaws?id=287246 Land acquired for the Vizhinjam International Seaport was treated as compulsory acquisition under the Land Acquisition Act because the statutory acquisition process had been followed, even though the final compensation was fixed by negotiated settlement. The article states that exemption under section 10(37) remained available because the land was supported by agricultural records, certificate evidence, returns showing agricultural income, and material indicating standing trees and cultivation before transfer. It further notes that a later inspection report could not displace contemporaneous evidence of agricultural use at the time of acquisition, so the land was rightly characterised as agricultural land for exemption purposes. en-us Thu, 06 Jun 2019 00:00:00 +0530 Mon, 06 Apr 2020 10:27:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287246 Land acquired for the Vizhinjam International Seaport was treated as compulsory acquisition under the Land Acquisition Act because the statutory acquisition process had been followed, even though the final compensation was fixed by negotiated settlement. The article states that exemption under section 10(37) remained available because the land was supported by agricultural records, certificate evidence, returns showing agricultural income, and material indicating standing trees and cultivation before transfer. It further notes that a later inspection report could not displace contemporaneous evidence of agricultural use at the time of acquisition, so the land was rightly characterised as agricultural land for exemption purposes. Case-Laws Income Tax Thu, 06 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287246