https://www.taxtmi.com/highlights?id=72943 Benefit of exemption u/s 10(37) - the exemption provided u/s 96 of the Act is wider in scope than the tax exemption provided in the existing provisions of the Income Tax Act. This clearly indicates that since the assessee company has received compensation under the RFCTLAAR Act and the case of the assessee does not fall under section 46 of the RFCTLAAR Act, no income tax is leviable on the award received on the compulsory acquisition of agricultural land. - AT en-us Tue, 07 Nov 2023 08:54:25 +0530 Tue, 07 Nov 2023 08:54:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=72943 Benefit of exemption u/s 10(37) - the exemption provided u/s 96 of the Act is wider in scope than the tax exemption provided in the existing provisions of the Income Tax Act. This clearly indicates that since the assessee company has received compensation under the RFCTLAAR Act and the case of the assessee does not fall under section 46 of the RFCTLAAR Act, no income tax is leviable on the award received on the compulsory acquisition of agricultural land. - AT Highlights Income Tax Tue, 07 Nov 2023 08:54:25 +0530 https://www.taxtmi.com/highlights?id=72943