Family Settlement: Cash for Property Rights Not a Transfer Under Sec 2(47) of Income Tax Act, No Capital Gains Tax. https://www.taxtmi.com/highlights?id=39461 Long term capital gain (LTCG) - relinquishment of right in property in favor of brother in lieu of cash - arrangement as per the family settlement - Such transaction cannot to be treated as transfer within the meaning of section 2(47) - not liable to income tax - AT en-us Fri, 18 May 2018 08:44:46 +0530 Fri, 18 May 2018 08:44:46 +0530 TaxTMI RSS Generator Family Settlement: Cash for Property Rights Not a Transfer Under Sec 2(47) of Income Tax Act, No Capital Gains Tax. https://www.taxtmi.com/highlights?id=39461 Long term capital gain (LTCG) - relinquishment of right in property in favor of brother in lieu of cash - arrangement as per the family settlement - Such transaction cannot to be treated as transfer within the meaning of section 2(47) - not liable to income tax - AT Highlights Income Tax Fri, 18 May 2018 08:44:46 +0530 https://www.taxtmi.com/highlights?id=39461