Compensation for compulsory land acquisition in 2014-15 is tax-exempt u/s 96 of the RFCTLARR Act per CBDT.

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....Taxability of compensation received on acquisition of land - In the instant case the assessee received compensation for compulsory acquisition of commercial land during the F.Y. 2014-15 which was exempted under section 96 of the RFCTLARR Act, as clarified by the CBDT Circular - AT....