https://www.taxtmi.com/caselaws?id=19145 The court ruled against the assessee and in favor of the Revenue, emphasizing that capital gains and exemptions should be assessed in the hands of the donor/transferor (husband) when the property is transferred to the spouse. The Tribunal's decision to delete the capital gain from the assessee's assessment was overturned, and the court clarified the proper interpretation of relevant provisions to prevent tax evasion. No costs were awarded. en-us Wed, 22 Mar 1995 00:00:00 +0530 Wed, 04 Nov 2009 12:53:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19145 The court ruled against the assessee and in favor of the Revenue, emphasizing that capital gains and exemptions should be assessed in the hands of the donor/transferor (husband) when the property is transferred to the spouse. The Tribunal's decision to delete the capital gain from the assessee's assessment was overturned, and the court clarified the proper interpretation of relevant provisions to prevent tax evasion. No costs were awarded. Case-Laws Income Tax Wed, 22 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19145