Assessee entitled to non-taxable compensation u/s 54B for land acquisition; authorities must guide on correct claims.

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....Denying exemption u/s. 54B - Assessee being ignorant of the same as entitled to claim compensation derived from the Government of Maharashtra of compulsory acquisition as non-taxable, offered the capital gains to tax by claiming deduction u/s. 54B of the Act. - the authorities under the Act are required to assist the assessee in the assessment proceedings by giving effect on the correct position of law, even if the assessee makes wrong claim. - AT....