https://www.taxtmi.com/caselaws?id=220547 Owelty paid to equalise unequal shares in a family partition was held to be an incident of the partition itself and part of the immovable property allotted, not a separate income or debt. Because the payment was integrally connected with the division and settlement of family assets, it did not amount to a transfer giving rise to capital gains tax. The Revenue's attempt to treat the amount as taxable compensation was rejected, and the issue was decided in favour of the assessee. en-us Thu, 10 Jan 2013 00:00:00 +0530 Wed, 15 May 2013 15:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220547 Owelty paid to equalise unequal shares in a family partition was held to be an incident of the partition itself and part of the immovable property allotted, not a separate income or debt. Because the payment was integrally connected with the division and settlement of family assets, it did not amount to a transfer giving rise to capital gains tax. The Revenue's attempt to treat the amount as taxable compensation was rejected, and the issue was decided in favour of the assessee. Case-Laws Income Tax Thu, 10 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220547