https://www.taxtmi.com/caselaws?id=432473 Compensation received on compulsory acquisition of agricultural land qualifies for capital gains exemption under section 10(37) of the Income-tax Act where the recipient is an individual or Hindu undivided family, the land satisfies the relevant agricultural-land requirement, it was used for agricultural purposes during the prescribed period, the transfer was compulsory, and compensation was received on or after 1 April 2004. Where these conditions are met, the compensation is not taxable as capital gains. The exemption under section 96 of the RFCTLARR Act, 2013 does not apply to compensation received before that Act commenced on 1 January 2014. 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 qualifies for capital gains exemption under section 10(37) of the Income-tax Act where the recipient is an individual or Hindu undivided family, the land satisfies the relevant agricultural-land requirement, it was used for agricultural purposes during the prescribed period, the transfer was compulsory, and compensation was received on or after 1 April 2004. Where these conditions are met, the compensation is not taxable as capital gains. The exemption under section 96 of the RFCTLARR Act, 2013 does not apply to compensation received before that Act commenced on 1 January 2014. Case-Laws Income Tax Wed, 04 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432473