Capital Gains Exempt on Compulsorily Acquired Rural Agricultural Land u/s 10(37) of Income Tax Act.

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....Nature of land sold - Gain earned on sale of land/acquisition - the Tribunal held that since the land was rural agricultural land compulsorily acquired by the government, the capital gains earned from its sale were exempt under Section 10(37) of the Act. Therefore, the addition made by the Assessing Officer was not sustainable.....