Allowing the appeal of the assessee the Court held that compensation received from Corporation of Kochi for acquisition of non -Agricultural land is held to be not taxable. Referred circular No. 36/2016 dt. 25-10-2016 ( 2016 ) 388 ITR 38 ( St) .
M. Vishwanathan v. CCIT (2020) 116 taxmann.com 894 / 274 Taxman 411 (Ker.)(HC)
S. 4 : Charge of income-tax-Compensation-Acquisition of non- Agricultural land-Corporation of Kochi-Compensation received is held to be not taxable. [Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, S. 96, Land Acquisition Act, 1894]