https://www.taxtmi.com/caselaws?id=196271 The ITAT and High Court held that consideration received under a family settlement, involving no actual transfer of assets but only a rearrangement of property rights among family members, is not subject to Capital Gains Tax under the I.T. Act. The courts relied on the Maturi Pullaiah case precedent to determine that the settlement amount was part of the family arrangement and not towards the transfer of capital assets. The High Court upheld the ITAT's decision, emphasizing the absence of asset transfer and dismissing the appeal based on factual findings. en-us Tue, 16 Oct 2012 00:00:00 +0530 Mon, 28 May 2018 17:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196271 The ITAT and High Court held that consideration received under a family settlement, involving no actual transfer of assets but only a rearrangement of property rights among family members, is not subject to Capital Gains Tax under the I.T. Act. The courts relied on the Maturi Pullaiah case precedent to determine that the settlement amount was part of the family arrangement and not towards the transfer of capital assets. The High Court upheld the ITAT's decision, emphasizing the absence of asset transfer and dismissing the appeal based on factual findings. Case-Laws Income Tax Tue, 16 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196271