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TMI Blog2023 (1) TMI 625X X X X Extracts X X X X X X X X Extracts X X X X ..... is important is the context in which clause (a) is inserted. Provisions define agricultural land in India as not being a land situated in any Municipality/Cantonment having population of 10,000 and above. Since the land of the assessee is situated in the municipality as per the certificate and population is more than 10,000, then it is not an agricultural land referred to in Section 10(37) of the Act for the simple reason that it is situated in a municipality/cantonment where it is not considered as agricultural land as per provisions of section 2(14) (iiia) of the Act. In our considered opinion, interpretation given by the ld. counsel for the assessee is erroneous and not acceptable. - ITA No. 8981/DEL/2019 - - - Dated:- 13-1-20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... olding 1/20th share in this land for which he received Rs. 23,01,667/- as compensation and Rs. 70,13,234/- as interest in F.Y. 2015-16 in lieu of compulsory acquisition. The assessee had claimed proceeds out of compulsory acquisition of land under consideration as exempt u/s 10(37) of the Act. 5. The Assessing Officer was of the opinion that in order to claim exemption u/s 10(37) of the Act, the land must be situated in any area specified in section 2(14) (iii) of the Act. Referring to the provisions of section 2(14) (iii) of the Act, the Assessing Officer was of the opinion that the said land bearing address at Village Jasola, Delhi was situated within the jurisdiction of municipality. Therefore, as per section 2(14) (iii) of the Act, e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erstood the phrase as population should be less than 10,000 whereas the actual meaning is population should be more than 10,000. 11. The ld. counsel for the assessee, referred to the provisions of section 10(37) of the Act and stated that the assessee is eligible for exemption mentioned therein. 12. Per contra, the ld. DR strongly supported the findings of the Assessing Officer and stated that even if the Revenue Officers have misinterpreted the phrase not less than 10,000 , then also, agricultural land should not be a land situated in an area mentioned in the provisions of section 2(14) (iii)(a) of the Act. 13. We have given thoughtful consideration to the orders of the authorities below. The relevant provisions of the Act read a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as municipality, municipal corporation, notified area committee, town urea committee, town committee, or by any other name) or a cantonment board and which has a population of not less than ten thousand, or 14. It is true that what is mentioned in the provisions of section 2(14) (iii) of the Act is that the population of the municipality should be more than 10,000. But what is important is the context in which clause (a) is inserted. Provisions define agricultural land in India as not being a land situated in any Municipality/Cantonment having population of 10,000 and above. 15. Since the land of the assessee is situated in the municipality as per the certificate and population is more than 10,000, then it is not an agricultural ..... X X X X Extracts X X X X X X X X Extracts X X X X
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