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TMI Blog2020 (5) TMI 465X X X X Extracts X X X X X X X X Extracts X X X X ..... ement Act, 2013 came into force with effect from 01.01.2014. It is a matter of record that the parties to the lis; viz., the petitioner and the acquisition authority, for the purpose of coming out the way development had in unison agreed to acquire and give the land on the basis of certain conditions in fixing the market value. Petitioner, in lieu, thereof received 80% of the amount, i.e., ₹ 43,51,786/-. I would not be commenting on the claim of the petitioner with regard to the balance amount, as the matter is subjudice in this Court. The language of Section 96 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, do not leave any doubt in the mind that if the land is eithe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... illage, Kanayannoor Taluk, Ernakulam District, which is situated on the southern side of the Thammanam Pullepady Road. The market value of the land on announcement of Smart City Project, Metro Rail Project and Mono Rail Project, increased many fold. Out of the aforementioned land, about 1.32 Ares (3.26 cents) of land with a building of 1500 Sq. Ft. had been taken for expansion of Thammanam Pullepady Road. The Land Acquisition Officer fixed the value as ₹ 10,48,269/- and the improvements at ₹ 3,864/-. The notification under the Old Land Acquisition Act was published on 24.04.2013. Thereafter, declaration under Sections 6(1) and 17(1) of the erstwhile Land Acquisition Act, 1894, showing the emergency provisions which tantamount to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and Resettlement Act, 2013 as it would not fall within the mischief of Section 54F of the Income Tax Act, 1961. In support of the aforementioned contention, reliance has been laid to Circular No.36/2016 dated 25.08.2016 whereby the Central Board of Direct Taxes issued a clarification that if the land is nonagricultural, it would not be taxable as per the provisions of the Income-tax Act, 1961. The assessment order and the demand notice are wholly without jurisdiction, malicious and not sustainable in the eyes of law. 5. Per contra, Sri.Christopher Abraham, the learned Standing Counsel for the Income-tax did not deny the issuance of the Circular No.36/2016 dated 25.08.2016 (Ext.P10) but supports the impugned order on the premise that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Circular No.36/2016 dated 25.08.2016 came out with a clarification. For the sake of brevity, only relevant portion of the circular is re-produced herein:- 3. As no distinction has been made between the compensation received for compulsory acquisition of agricultural land and non-agricultural land in the matter of providing exemption from income-tax under the RFCTLARR Act, the exemption provided under Section 96 of the RFCTLARR Act is wider in scope than the tax-exemption provided under the existing provisions of Income-tax Act, 1961. This has created uncertainty in the matter of taxability of compensation received on compulsory acquisition of land, especially those relating to acquisition of non-agricultural land. The matter has ..... X X X X Extracts X X X X X X X X Extracts X X X X
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