https://www.taxtmi.com/caselaws?id=432473 Compensation received on compulsory acquisition of agricultural land was stated to qualify for exemption under section 10(37) of the Income-tax Act, 1961 because the land was agricultural, used for agricultural purposes, and the statutory conditions for individual or HUF ownership, compulsory acquisition, and receipt on or after 1 April 2004 were satisfied. The note also states that section 96 of the RFCTLARR Act, 2013 could not exempt compensation received before 1 January 2014, when that regime came into force. On that basis, the long-term capital gains addition was described as unsustainable. en-us Wed, 04 Jan 2023 00:00:00 +0530 Fri, 06 Jan 2023 09:35:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432473 Compensation received on compulsory acquisition of agricultural land was stated to qualify for exemption under section 10(37) of the Income-tax Act, 1961 because the land was agricultural, used for agricultural purposes, and the statutory conditions for individual or HUF ownership, compulsory acquisition, and receipt on or after 1 April 2004 were satisfied. The note also states that section 96 of the RFCTLARR Act, 2013 could not exempt compensation received before 1 January 2014, when that regime came into force. On that basis, the long-term capital gains addition was described as unsustainable. Case-Laws Income Tax Wed, 04 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432473