ABC PAPER PRODUCTS,AGRA vs. INCOME TAX OFFICER 1(1)(1) AGRA, AGRA

In the result, the appeal of the assessee is dismissed

10(37) in the\nAct from 01.04.2005 to provide specific exemption to the capital gains\narising to an Individual or a HUF from compulsory acquisition of an\nagricultural land situated in specified urban limit, subject to fulfilment\nof certain conditions. Therefore, compensation received from\ncompulsory acquisition of an agricultural land is not taxable under the\nAct (subject to fulfilment

SATISH PRAKASH AGARWAL,AGRA vs. THE ACIT, CIRCLE 1(2)(1), AGRA, AGRA

In the result, appeal of the assessee is allowed