Compulsory acquisition of agriculture land by central govt.
This query is : Resolved
amit kapadia
(Querist)
01 October 2014
agriculture Land of my assessee was acquire by the central government through official gazette and compensation was duly paid in the month of july 2013.
1. the land was situated with in the 8 kms of city limit and it was a individual property.
2. the land was used for the agriculture purpose from past 20+ years.
my question is that the assessee has proof of agriculture activity on that particular land till F.Y. 2010-11 by way of confirmation of sugar factory but from F.Y. 2011-12 the confirmation was received on the name of his son which was not a owner in 7/12 so can i claim the exemption in section 10(37).
the assessee got the letter of confirmation from the "talati" of the village that the particular land were used for agriculture purpose.
the assessee also got the letter of confirmation from the sugar factory that factory has collected the crop produced on that particular land.
so can we claim the exemption u/s. 10(37)??
thanxs
1. the land was situated with in the 8 kms of city limit and it was a individual property.
2. the land was used for the agriculture purpose from past 20+ years.
my question is that the assessee has proof of agriculture activity on that particular land till F.Y. 2010-11 by way of confirmation of sugar factory but from F.Y. 2011-12 the confirmation was received on the name of his son which was not a owner in 7/12 so can i claim the exemption in section 10(37).
the assessee got the letter of confirmation from the "talati" of the village that the particular land were used for agriculture purpose.
the assessee also got the letter of confirmation from the sugar factory that factory has collected the crop produced on that particular land.
so can we claim the exemption u/s. 10(37)??
thanxs
01 October 2014
Definitely you can claim the exemption u/s 10(37).
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