https://www.taxtmi.com/caselaws?id=419739 Compensation received for compulsory acquisition of land under the RFCTLARR Act, 2013 is exempt from income-tax, because section 96 bars levy of income-tax and stamp duty on awards or agreements under the Act except where section 46 applies. CBDT Circular No. 36/2015 was also relied on to confirm that such compensation is not taxable unless the statutory exception is attracted. On the stated facts, the acquisition did not fall within section 46, so the amount was not chargeable as capital gains. The revisionary order under section 263 was therefore unsustainable and was set aside. en-us Wed, 16 Mar 2022 00:00:00 +0530 Sat, 19 Mar 2022 07:37:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419739 Compensation received for compulsory acquisition of land under the RFCTLARR Act, 2013 is exempt from income-tax, because section 96 bars levy of income-tax and stamp duty on awards or agreements under the Act except where section 46 applies. CBDT Circular No. 36/2015 was also relied on to confirm that such compensation is not taxable unless the statutory exception is attracted. On the stated facts, the acquisition did not fall within section 46, so the amount was not chargeable as capital gains. The revisionary order under section 263 was therefore unsustainable and was set aside. Case-Laws Income Tax Wed, 16 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419739