SMT. LAKSHMAMMA,SHIVAMOGGA vs. THE INCOME TAX OFFICER, WARD- 3, SHIVAMOGGA
The appeal of the Assessee is allowed
ITA 1387/BANG/2019[2015-16]Status: DisposedITAT Bangalore22 Nov 2019AY 2015-16
Bench: Shri N.V. Vasudevan, Vice- & Shri A.K.Garodiaassessment Year : 2015-16 Smt. Lakshmamma, Vs. The Income Tax Officer, Purdal Road, Ward-3, Gadikoppa, Shivamogga-577 201 Shivamogga-577 205 Pan No: Akkpl 6281 A Appellant Respondent Appellant By : Shri.Tata Krishna, Advocate Respondent By : K.R.Narayana, Jcit (Dr) Date Of Hearing : 19.11.2019 Date Of Pronouncement : 22.11.2019 O R D E R Per N.V. Vasudevan, Vice-This Is An Appeal Filed By The Revenue Against The Order Dated 26.3.2019 Of The Cit(Appeals), Davangere, Relating To Assessment Year 2015-16. The Facts & Circumstances Under Which This Appeal Arise For 2. Consideration Are That The Assessee Owned Agricultural Lands Measuring 6.8 Acres In Malligenahalli, Kasaba Hobli, Shivamogga Taluk Which Was Compulsorily Acquired By The Special Land Acquisition Officer [Hereinafter Referred To As “The Slao”], Under The Provisions Of The Land Acquisition Act, 1894 Vide Notification Dated 22.9.2000. Aggrieved By The Award As Originally Passed Awarding Compensation For The Land Acquired By The Govt., Page 2 Of 12
For Appellant: Shri.Tata Krishna, AdvocateFor Respondent: K.R.Narayana, JCIT (DR)
Section 10(37)Section 2Section 23Section 23(2)Section 28Section 56Section 57
Capital gain” arising from the transfer of agricultural land, shall be exempted, where :
1. Such land is situate in any area referred to in, item (a) or item (b) of sub-clause (iii) of clause (14) of Section 2
2. Such land, during the period of two years immediately preceding the date of transfer, was being used for agricultural purposes
