2009 (1) TMI 930

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.... For the Appellant : ADV. SRI.P.K.R.MENON,SR.COUNSEL, GOI(TAXES), SRI.JOSE JOSEPH, SC, FOR INCOME TAX For the Respondent : SRI.K.ANAND (A.201), SMT.LATHA KRISHNAN, SRI.V.RAMACHANDRAN ORDER Koshy, Ag.C.J.: The writ petitioner is a Society established under the Travancore Cochin Societies Registration Act, 1955 set up with the object of development of Information Technology Parks. Suit....

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....ue, solatium, interest etc. are payable. If the market value fixed is not acceptable, the parties can go to the court for reference. On negotiation large extent of lands involved in the Section 4 notification was sold and sale deeds were executed and those lands were excluded from the provisions of the Land Acquisition Act. Government withdrew from the Land Acquisition under Section 48 by effaceme....

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....eon". A reading of the above Section shows that, that is applicable only when lands are compulsorily acquired by the Government. Even though, here the acquisition procedures were initiated, lands were sold to the Government by negotiating settlement. Under Section 194LA of the Income Tax Act, deduction of an amount equal to ten per cent of compensation is required only when lands are compulsori....