Dismissing the appeal of the Revenue the Court held that  the property was acquired under the provisions of the National Highways Act, 1956. The property vested by operation of the statute and there was no requirement for payment of stamp duty in such vesting of property. As such there was no necessity for an assessment of the valuation of the property by the stamp valuation authority. Section 50C was not applicable.  Central Board of Direct Taxes Circular No. 36 of 2016 ([2016] 388 ITR (St.) 48), it was clarified that compensation received in respect of an award or agreement which has been exempted from the levy of Income-tax under section 96 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 shall also not be taxable under the provisions of the Income-tax Act, 1961 even if there is no specific provision of exemption for such compensation in the Income-tax Act, 1961. (AY. 2015-16)