https://www.taxtmi.com/caselaws?id=26141 The High Court directed the Tribunal to reevaluate the case considering the source of funds for the release deed and the implications of the Taxation Laws (Amendment) Act, 1970. The court emphasized the importance of determining whether the consideration for the release came from individual or joint family funds to establish the property's ownership status. The lack of consideration of these crucial aspects by the Tribunal necessitated a fresh assessment of the case to resolve the ambiguity surrounding the taxation of capital gains and the clubbing of minor sons' interests. en-us Fri, 20 Mar 1987 00:00:00 +0530 Wed, 03 Feb 2010 11:44:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26141 The High Court directed the Tribunal to reevaluate the case considering the source of funds for the release deed and the implications of the Taxation Laws (Amendment) Act, 1970. The court emphasized the importance of determining whether the consideration for the release came from individual or joint family funds to establish the property's ownership status. The lack of consideration of these crucial aspects by the Tribunal necessitated a fresh assessment of the case to resolve the ambiguity surrounding the taxation of capital gains and the clubbing of minor sons' interests. Case-Laws Income Tax Fri, 20 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26141