The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the income tax cannot be levied on the compensation or enhanced compensation received on Compulsory Acquisition of the agricultural land. For the relevant assessment year, the Assessing Officer observed that the land belongs to the assessee was acquired by the Government for […]
The post No Income Tax on Compensation / Enhanced Compensation Received on Compulsory Acquisition of Agricultural Land: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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