https://www.taxtmi.com/caselaws?id=287246 Section 10(37) exemption applies where agricultural land is acquired through the statutory compulsory-acquisition process, even if final compensation is fixed by negotiated settlement. Negotiated compensation does not alter the compulsory character of an acquisition initiated and completed under the Land Acquisition Act. Agricultural character is established by contemporaneous agricultural records, certification, declared agricultural income, standing trees and evidence of cultivation before transfer. A later inspection report does not displace this evidence of agricultural use at the relevant time. The transfer therefore qualifies for exemption under section 10(37) as compulsory acquisition of agricultural land. 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 Section 10(37) exemption applies where agricultural land is acquired through the statutory compulsory-acquisition process, even if final compensation is fixed by negotiated settlement. Negotiated compensation does not alter the compulsory character of an acquisition initiated and completed under the Land Acquisition Act. Agricultural character is established by contemporaneous agricultural records, certification, declared agricultural income, standing trees and evidence of cultivation before transfer. A later inspection report does not displace this evidence of agricultural use at the relevant time. The transfer therefore qualifies for exemption under section 10(37) as compulsory acquisition of agricultural land. Case-Laws Income Tax Thu, 06 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287246