https://www.taxtmi.com/caselaws?id=294411 Compensation received for acquisition of agricultural land, including enhanced compensation and connected interest, was treated as not taxable where the statutory exemption conditions were satisfied. The tax addition made on the basis that such receipts were chargeable in the assessee's hands was therefore unsustainable, because the legal position applied exempt treatment to compensation arising from acquisition of agricultural land. The assessment adjustment based on taxability of the acquisition proceeds did not survive, and the receipt was held outside the taxable income base on the facts found. en-us Thu, 05 Mar 2020 00:00:00 +0530 Tue, 13 Apr 2021 03:09:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294411 Compensation received for acquisition of agricultural land, including enhanced compensation and connected interest, was treated as not taxable where the statutory exemption conditions were satisfied. The tax addition made on the basis that such receipts were chargeable in the assessee's hands was therefore unsustainable, because the legal position applied exempt treatment to compensation arising from acquisition of agricultural land. The assessment adjustment based on taxability of the acquisition proceeds did not survive, and the receipt was held outside the taxable income base on the facts found. Case-Laws Income Tax Thu, 05 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294411