https://www.taxtmi.com/caselaws?id=307145 The ITAT ruled in favor of the Assessee on both issues. It held that the compensation received for the compulsory acquisition of agricultural land, including interest, should be exempt from income tax. Additionally, the ITAT found the addition of an unexplained amount to the capital account unjustified as the capital account balances were reconciled. The appeal was allowed on both grounds. en-us Tue, 28 Jun 2022 00:00:00 +0530 Tue, 21 Mar 2023 20:19:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307145 The ITAT ruled in favor of the Assessee on both issues. It held that the compensation received for the compulsory acquisition of agricultural land, including interest, should be exempt from income tax. Additionally, the ITAT found the addition of an unexplained amount to the capital account unjustified as the capital account balances were reconciled. The appeal was allowed on both grounds. Case-Laws Income Tax Tue, 28 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307145