https://www.taxtmi.com/caselaws?id=395432 The Court ruled in favor of the petitioner, quashing the assessment order and demand notice challenged under the Income Tax Act, 1961. The Court held that the compensation received for land acquisition should be exempt under Section 96 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, rather than falling under the Income Tax Act's purview. Emphasizing the wider scope of exemption under the 2013 Act, the Court highlighted the inconsistency between the circular indicating non-taxability of non-agricultural land and the Assessing Officer's assessment, ultimately siding with the petitioner and disposing of the writ petition in their favor. en-us Tue, 18 Feb 2020 00:00:00 +0530 Thu, 21 May 2020 11:38:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395432 The Court ruled in favor of the petitioner, quashing the assessment order and demand notice challenged under the Income Tax Act, 1961. The Court held that the compensation received for land acquisition should be exempt under Section 96 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, rather than falling under the Income Tax Act's purview. Emphasizing the wider scope of exemption under the 2013 Act, the Court highlighted the inconsistency between the circular indicating non-taxability of non-agricultural land and the Assessing Officer's assessment, ultimately siding with the petitioner and disposing of the writ petition in their favor. Case-Laws Income Tax Tue, 18 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395432