https://www.taxtmi.com/caselaws?id=325416 The High Court allowed the appeal, ruling that the amount received by the assessee as alimony was a capital receipt and therefore not taxable. The court did not address the issues related to the deduction under Section 54 of the Income Tax Act, the applicability of Section 49(1)(iii) concerning the assessee's status as a co-owner of the property, and the disallowance of brokerage for computation of long-term capital gains. The decision favored the assessee, confirming that 50% of the sale consideration received as alimony was not subject to tax. en-us Fri, 11 Mar 2016 00:00:00 +0530 Wed, 10 Aug 2016 17:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325416 The High Court allowed the appeal, ruling that the amount received by the assessee as alimony was a capital receipt and therefore not taxable. The court did not address the issues related to the deduction under Section 54 of the Income Tax Act, the applicability of Section 49(1)(iii) concerning the assessee's status as a co-owner of the property, and the disallowance of brokerage for computation of long-term capital gains. The decision favored the assessee, confirming that 50% of the sale consideration received as alimony was not subject to tax. Case-Laws Income Tax Fri, 11 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325416