Read all Latest Updates on and about section 10(37) of the Income Tax Act

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Compensation u/s 28 of Land Acquisition Act is Taxable u/s 56(2)(viii) r.w.s 145B(1) of Income Tax Act: ITAT [Read Order]

Kavi Priya

The New Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that the compensation received under Section 28 of the Land Acquisition Act...

ITAT Weekly Round-Up

Interest Received u/s 28 of Land Acquisition Act on Enhanced Compensation is not Taxable being Part...

Income from Compensation of Land Acquisition u/s 96 RFCTLARR Act not taxable under Income Tax Act:...

Agricultural Land acquired under Compulsory Acquisition is Exempt Income u/s 10(37): ITAT [Read...

Farm House is part of Agricultural Land and eligible for Deduction u/s 10(37): ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai held that Farmhouse is part of agricultural land and eligible for deduction under Section 10(37) of the Income Tax Act, 1961. The assessee, A....

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

The Cochin bench of the Income Tax Appellate Tribunal (ITAT) has held that the compulsory acquisition of the urban agricultural land is eligible for tax exemption under Section 10(37) of the Income...

Income Tax Benefit for Compulsory Acquisition of Land can’t be denied merely because sale price was fixed through a Negotiated Settlement: ITAT [Read Order]

The Cochin bench of the Income Tax Appellate Tribunal (ITAT) has held that the department cannot deny the benefit of Section 10(37) of the Income Tax Act on compulsory acquisition of land merely for...

Compensation received for Compulsory Land Acquisition not subject to Income Tax: CBDT [Read Circular]

Recently, the Central Board of Direct Taxes (CBDT) clarified that the compensation received in respect of acquisition of both agricultural and non-agricultural land are exempted from Income Tax. ...