Benefit of RFCTLARR Act cannot be extended to land acquired under NHA Act; compensation was liable to tax: ITAT

INCOME TAX : Land of assessee was compulsorily acquired by Government under the National Highway Act, 1956 and assessee claimed exemption from long term capital gains arising from compensation received under Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (RFCTLARR Act).INCOME TAX : Land of assessee was compulsorily acquired by Government under the National Highway Act, 1956 and assessee claimed exemption from long term capital gains arising from compensation received under Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (RFCTLARR Act).www.taxmann.com Latest Case LawsRead More

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