https://www.taxtmi.com/caselaws?id=66915 The Appellate Tribunal ITAT Indore ruled in an appeal regarding the addition of capital gains from transferring shares to the wife. The Tribunal held that the transfer was not a capital gains event but part of a family settlement for maintenance, as the wife was not a co-sharer but a claimant for maintenance. It concluded that no material benefit accrued to the assessee from the transfer, as the consideration was the agreement to live separately and not claim further rights in the assessee's properties. Therefore, the Tribunal allowed the appeal, deleting the Rs. 74,098 addition from the assessee's income. en-us Mon, 23 Sep 1985 00:00:00 +0530 Tue, 08 Mar 2011 11:22:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66915 The Appellate Tribunal ITAT Indore ruled in an appeal regarding the addition of capital gains from transferring shares to the wife. The Tribunal held that the transfer was not a capital gains event but part of a family settlement for maintenance, as the wife was not a co-sharer but a claimant for maintenance. It concluded that no material benefit accrued to the assessee from the transfer, as the consideration was the agreement to live separately and not claim further rights in the assessee's properties. Therefore, the Tribunal allowed the appeal, deleting the Rs. 74,098 addition from the assessee's income. Case-Laws Income Tax Mon, 23 Sep 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66915