25 November 2023
I request all the experts to provide their valuable feedback on the following issue:
Whether compensation received through acquisition of land by government (Direct purchase through agreement) is taxable or exempt from Capital Gain. When land acquisition is done through Land Acquisition Act, 2013 (Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013) then there will be no capital gain. There is no ambiguity in this case. But when land is not acquired under this law but through direct agreement then what will be the taxability.
26 November 2023
Thank u for your reply... But i found a case study where it is written capital gain will not be applicable.... Please refer this case study https://www.courtkutchehry.com/Judgement/Search/t/1185976-seema-jagdish-patil-vs-national
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