2013 (7) TMI 1142 - HC - Income Tax

Summary

The High Court of Kerala held that the petitioner is liable to pay income tax under the head 'capital gains' for a negotiated sale transaction after a land acquisition notification. The claim for exemption under Section 10(37) of the Income Tax Act, 1961 was denied. The Writ Petition was dismissed. (Case citation: 2013 (7) TMI 1142 - KERALA HIGH COURT)