https://www.taxtmi.com/caselaws?id=419972 Compensation for compulsory acquisition under the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 was held exempt from income tax under section 96 because the acquisition fell within the Act and outside section 46; the exemption was not confined to agricultural land. The mistaken disclosure of the compensation as capital gains in the original return, and the failure to file a revised return, did not make the exempt amount taxable. Tax authorities must assess liability according to law and cannot levy tax on income exempt under statute merely on a technical plea. The exempt compensation was therefore not includible in total income. en-us Mon, 31 Jan 2022 00:00:00 +0530 Thu, 24 Mar 2022 14:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419972 Compensation for compulsory acquisition under the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 was held exempt from income tax under section 96 because the acquisition fell within the Act and outside section 46; the exemption was not confined to agricultural land. The mistaken disclosure of the compensation as capital gains in the original return, and the failure to file a revised return, did not make the exempt amount taxable. Tax authorities must assess liability according to law and cannot levy tax on income exempt under statute merely on a technical plea. The exempt compensation was therefore not includible in total income. Case-Laws Income Tax Mon, 31 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419972