(R.K. Agrawal and Mohan M. Shantanagoudar, JJ.)
Union of India & Ors. _____________________________ Appellant(s)
v.
M/s. Infopark Kerala ________________________________ Respondent
Civil Appeal No. 2415/2010, decided on April 5, 2017
With
SLP(C) No. 2287/2012, SLP(C) No. 19148/2015, C.A. No. 5902/2015, C.A. No. 8783/2016 and C.A. No. 1065/2017
The Order of the court was delivered by
Order
1. The controversy raised in the present appeals is as to whether the payment of compensation on agreed terms in respect of the land acquired would be entitled for exemption under Section 10(37) of the Income Tax Act, 1961 or not.
2. This Court in the case of Balakrishnan v. Union of India – 2017 (2) SCALE 1 has held that even if the amount of compensation is paid on agreed terms it would not change the character of the acquisition from that of compulsory acquisition to the voluntary sale and the exemption provided under the Income Tax Act would be available and such negotiations would be confined to the quantum of compensation only.
3. In view of the aforesaid discussion, we see no ground to interfere with the impugned order passed by the High Court.
4. Accordingly, the Civil Appeals and the Special Leave Petitions fail and the same are dismissed.
Civil Appeal No. 2415/2010
Union of India & Ors _____________________________ Appellant(s)
v.
M/s. Infopark Kerala ______________________________ Respondent
WITH
SLP(C) No. 2287/2012 (With office report)
SLP(C) No. 19148/2015 (With office report)
C.A. Nos. 5902/2015 and 8783/2016
C.A. No. 1065/2017 (With office report)
Date: 05/04/2017 These matters were called on for hearing today.
(Before R.K. Agrawal and Mohan M. Shantanagoudar, JJ.)
For Appellant(s) Mr. K. Radhakrishnan, Sr. Adv.
Mr. Arijit Prasad, Adv.
Mr. T.M. Singh, Adv.
For Mrs. Anil Katiyar, Adv.
For Respondent(s) Mr. Arvind P. Datar, Sr. Adv.
Mr. Pratap Venugopal, Adv.
Ms. Surekha Raman, adv.
Ms. Niharika, Adv.
Ms. Kanika Kalaiyarasan, Adv.
For M/s. K.J. John & Co., Advs.
Mr. B. Krishna Prasad, Adv.
Mr. M.T. George, Adv.
Mr. Shreekant N. Terdal, Adv.
Mr. T.V. George, Adv.
Mr. Somil Agarwal, Adv.
Ms. Monika Ghai, Adv.
Mr. Ambhoj Kumar Sinha, Adv.
UPON hearing the counsel the Court made the following
Order
5. The civil appeals and the special leave petitions are dismissed in terms of the signed order.
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