https://www.taxtmi.com/caselaws?id=468469 Compensation received on compulsory acquisition of land under the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 is treated as exempt under section 96, even where the land is held as stock in trade by a partnership firm. The scope of section 96, read with CBDT Circular No. 36/2016, clarifies that such compensation is not taxable under the Income-tax Act merely because a specific exemption is not found in that Act. The fact that the land was stock in trade and the recipient was a firm does not change the exemption where the acquisition is under the 2013 Act. en-us Mon, 24 Mar 2025 00:00:00 +0530 Thu, 07 May 2026 15:34:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468469 Compensation received on compulsory acquisition of land under the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 is treated as exempt under section 96, even where the land is held as stock in trade by a partnership firm. The scope of section 96, read with CBDT Circular No. 36/2016, clarifies that such compensation is not taxable under the Income-tax Act merely because a specific exemption is not found in that Act. The fact that the land was stock in trade and the recipient was a firm does not change the exemption where the acquisition is under the 2013 Act. Case-Laws Income Tax Mon, 24 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468469