Compulsory Acquisition of Urban Land eligible for Tax Benefit: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Cochin bench has held that the compulsory acquisition of urban land is eligible for tax deduction under the Income Tax Act, 1961. The Assessing Officer reopened the assessment against the assessee for the reason that the assessee had not disclosed capital gains tax for land sold to […]

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