Bullet Train Project: Compensation Amount Not Taxable Says High Court
NDTV
The Bombay High Court said the petitioner's land was acquired for a public project and that acquisition of property through private negotiations and purchases was permitted to expedite the process of a public project.
The Bombay High Court has held that income tax cannot be deducted from an amount given by way of compensation for property the National Hi-Speed Rail Corporation Ltd (NHSRCL) acquired for the Mumbai-Ahmedabad bullet train project.
A division bench of Justices S V Gangapurwala and M G Sewlikar passed its order on Thursday, on a petition filed by one Seema Patil, who sought a refund of the income tax deducted at the source by the NHSRCL after it acquired her property at Bhiwandi in Thane district for the project.
The court in its order noted that the petitioner's land was acquired for a public project and that acquisition of property through private negotiations and purchases was permitted to expedite the process for implementation of a public project.
"If the parties would not agree with the negotiations and direct purchase, then compulsory acquisition is resorted to," the bench said.
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