https://www.taxtmi.com/caselaws?id=64915 The tribunal partially allowed the appellant's appeal, confirming the validity of the reopening proceedings but overturning the taxability of capital gains. It held that the family settlement did not lead to taxable capital gains. Additionally, even if treated as a gift, the transaction was not subject to capital gains tax under section 45 due to section 47(iii). en-us Tue, 17 Mar 1987 00:00:00 +0530 Fri, 11 Feb 2011 11:24:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64915 The tribunal partially allowed the appellant's appeal, confirming the validity of the reopening proceedings but overturning the taxability of capital gains. It held that the family settlement did not lead to taxable capital gains. Additionally, even if treated as a gift, the transaction was not subject to capital gains tax under section 45 due to section 47(iii). Case-Laws Income Tax Tue, 17 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64915