{"id":29874,"date":"2022-09-17T19:18:39","date_gmt":"2022-09-17T13:48:39","guid":{"rendered":"https:\/\/itatonline.org\/digest\/mattapali-ram-kumar-v-acit-2022-the-chambers-journal-april-p-103-vishakha-trib\/"},"modified":"2022-09-17T19:18:39","modified_gmt":"2022-09-17T13:48:39","slug":"mattapali-ram-kumar-v-acit-2022-the-chambers-journal-april-p-103-vishakha-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/mattapali-ram-kumar-v-acit-2022-the-chambers-journal-april-p-103-vishakha-trib\/","title":{"rendered":"Mattapali Ram Kumar v. ACIT ( 2022) The Chamber\u2019s Journal -April \u2013 P. 103 ( Vishakha ) ( Trib)"},"content":{"rendered":"<p>Assessee has received compensation\u00a0 under\u00a0 the Right to Fair Compensation and Transparency in\u00a0 Land Acquisition Act\u00a0 , 2003. The said amount was shown as exempt . In the course of assessment proceedings the AO has accepted the same as exempt . PCIT in revision proceedings held that the said compensation is liable to tax as long term capital gains u\/s 45(5) of the Act and set aside the assessment order . On appeal the Tribunal referred the CBDT Circular No 36 of 2015\u00a0 dt . 25 -10- 2016 and\u00a0 held that\u00a0\u00a0 compulsory acquisition\u00a0 is not chargeable to capital gains . Revision order was quashed . ( ITA No. 131 \/VIZ\/ 2021 dt . 16 -3 -2022 ) ( AY. 2016 -17)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 263 : Commissioner &#8211; Revision of orders prejudicial to revenue \u2013 Compensation received under compulsory acquisition  is not chargeable to capital gains \u2013 Revision is not valid [ S. 45(5), Right to Fair Compensation and Transparency in  Land Acquisition Act , 2013, S.96 ]  <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-29874","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7LQ","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=29874"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29874\/revisions"}],"predecessor-version":[{"id":29875,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29874\/revisions\/29875"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=29874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=29874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=29874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}