https://www.taxtmi.com/caselaws?id=798198 Enhanced compensation arising from the same compulsory acquisition of agricultural land qualifies for exemption where the original compensation had been accepted after verification of agricultural character, ownership and use, and land records support cultivation. The enhanced amount retains the character of the original compensation. Capital gains from sale of office premises may be assessed as long-term capital gains despite an erroneous short-term classification in the return and no revised return, where the transaction was disclosed and the record establishes legal and beneficial ownership, possession and the requisite holding period. Correcting the character of disclosed income is not a fresh claim for deduction, exemption or relief. en-us Tue, 18 Aug 2026 00:00:00 +0530 Thu, 03 Sep 2026 08:20:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798198 Enhanced compensation arising from the same compulsory acquisition of agricultural land qualifies for exemption where the original compensation had been accepted after verification of agricultural character, ownership and use, and land records support cultivation. The enhanced amount retains the character of the original compensation. Capital gains from sale of office premises may be assessed as long-term capital gains despite an erroneous short-term classification in the return and no revised return, where the transaction was disclosed and the record establishes legal and beneficial ownership, possession and the requisite holding period. Correcting the character of disclosed income is not a fresh claim for deduction, exemption or relief. Case-Laws Income Tax Tue, 18 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798198