https://www.taxtmi.com/caselaws?id=775772 An assessee's delay in filing the appeal was condoned because it was attributable to incorrect professional advice and pursuit of the wrong forum, and relevant additional evidence was admitted as bearing on the core dispute. On the tax issue, compensation for compulsory acquisition of agricultural land under the National Highways Act, 1956 was considered capable of exemption under section 96 of the 2013 land acquisition law, and agricultural land outside the statutory urban limits was noted as not constituting a capital asset under section 2(14)(iii) of the Income-tax Act. As the factual foundation had not been examined, the matter was remanded to the Assessing Officer for verification and fresh consideration of exemption and capital gains taxability. en-us Fri, 27 Jun 2025 00:00:00 +0530 Thu, 31 Jul 2025 08:17:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775772 An assessee's delay in filing the appeal was condoned because it was attributable to incorrect professional advice and pursuit of the wrong forum, and relevant additional evidence was admitted as bearing on the core dispute. On the tax issue, compensation for compulsory acquisition of agricultural land under the National Highways Act, 1956 was considered capable of exemption under section 96 of the 2013 land acquisition law, and agricultural land outside the statutory urban limits was noted as not constituting a capital asset under section 2(14)(iii) of the Income-tax Act. As the factual foundation had not been examined, the matter was remanded to the Assessing Officer for verification and fresh consideration of exemption and capital gains taxability. Case-Laws Income Tax Fri, 27 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775772