https://www.taxtmi.com/caselaws?id=312881 Acquisition notifications issued after 01.01.2014 under the Karnataka Industrial Areas Development Act were treated as attracting compensation under the 2013 land acquisition regime where the notifications and the Board's resolution expressly adopted Schedule I of that Act. The court applied parity with earlier cases and rejected a different treatment merely because the acquisition related to a metro rail project. Once compensation was held payable under the 2013 Act, the statutory exemption under Section 96 operated fully, so the compensation was not subject to income tax or tax deduction at source. The writ appeals therefore failed and the compensation order with tax exemption was upheld. en-us Wed, 27 Sep 2023 00:00:00 +0530 Wed, 13 Mar 2024 08:43:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312881 Acquisition notifications issued after 01.01.2014 under the Karnataka Industrial Areas Development Act were treated as attracting compensation under the 2013 land acquisition regime where the notifications and the Board's resolution expressly adopted Schedule I of that Act. The court applied parity with earlier cases and rejected a different treatment merely because the acquisition related to a metro rail project. Once compensation was held payable under the 2013 Act, the statutory exemption under Section 96 operated fully, so the compensation was not subject to income tax or tax deduction at source. The writ appeals therefore failed and the compensation order with tax exemption was upheld. Case-Laws Income Tax Wed, 27 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312881