| |
| The Tax Publishers2020 TaxPub(DT) 0665 (Del-HC) : (2020) 314 CTR 0260 : (2020) 270 TAXMAN 0151 INCOME TAX ACT, 1961
Section 119(2)(b)
Information gathered by AO from Tehsil Officer/Patwari clearly showed that subject land had been specified as 'Gair Mumkin' meaning that land was not cultivable and was thus not an agricultural land. In view of this land in question had to be categorized as a capital asset and, therefore, assessee could not claim benefit of exemption to 'agricultural land' and hence, compensation received by the assessee in pursuance of land acquisition proceedings, was subject to tax and refund had been rightly rejected.
|
Refund claim under section 119(2)(b) - Assessee claimed refund on account of TDS on compensation received on compulsory acquisition of land acquired by govt. - Subject piece of land not classifiable as agricultural land as claimed by assessee -
Assessee by way of writ petition challenged order passed by Chief CIT(E), whereby assessee's request for refund claim under section 119(2)(b) of TDS under section 194LA compensation received on agricultural land acquired by Government had been declined.Held: Information gathered by AO from Tehsil Officer/Patwari clearly showed that subject land had been specified as 'Gair Mumkin' meaning that land was not cultivable and was thus not an agricultural land. In view of this land in question had to be categorized as a capital asset and, therefore, assessee could not claim benefit of exemption to 'agricultural land' and hence, compensation received by the assessee in pursuance of land acquisition proceedings, was subject to tax and refund had been rightly rejected.
REFERRED :
FAVOUR : Against the assessee.
A.Y. : 2012-13
 SUBSCRIBE FOR FULL CONTENT
|