https://www.taxtmi.com/caselaws?id=369769 The Tribunal dismissed the Revenue's appeal, holding that the transfer of shares under the family arrangement was not taxable as it did not constitute a "transfer" under the Income-tax Act. The reopening of the assessment under Section 147 was deemed invalid due to the prior acceptance of the family settlement by the Commissioner. The non-compete fee received as part of the family settlement was also not taxable. The order was pronounced on 24th July 2018 at Chennai. en-us Tue, 24 Jul 2018 00:00:00 +0530 Fri, 02 Nov 2018 14:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369769 The Tribunal dismissed the Revenue's appeal, holding that the transfer of shares under the family arrangement was not taxable as it did not constitute a "transfer" under the Income-tax Act. The reopening of the assessment under Section 147 was deemed invalid due to the prior acceptance of the family settlement by the Commissioner. The non-compete fee received as part of the family settlement was also not taxable. The order was pronounced on 24th July 2018 at Chennai. Case-Laws Income Tax Tue, 24 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369769