Taxability of Real Estate transactions
Taxability of Real Estate transactions
Taxability of Real Estate transactions
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Family arrangements<br />
• Whether transfer <strong>of</strong> property in family<br />
settlement is chargeable to capital gains<br />
tax<br />
• Family arrangements made voluntarily to<br />
resolve the disputes among members <strong>of</strong> a<br />
family did not amount to transfer.<br />
• No capital gain arises from the transaction<br />
• CIT vs AL Ramanathan 245 ITR 494 (Madras)