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Income tax on sale of Development rights certificates

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16 April 2024 we have our ancestral agricultural land in pune city but this land gone under garden reservation. Pune municipal corporation has given DRC to us. we are planning to sale this DRC in open Market.
we have cultivated rice and other crops on this land till the DRC received.
Questions :-
1.is this sale transaction liable to pay tax under CG?
2.will it exempted under compulsory acquisition
3.If it is taxable then can we get deduction us 54B after purchased another agricultural land ?
Sir/madam Kindly explain with supreme court decisions or high court decisions.

17 April 2024 1 yes.
2 No.
3 54B exemption available.

17 April 2024 Sir thank You so Much ,
May i get case laws of supreme court on this matter.

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