https://www.taxtmi.com/caselaws?id=28580 The court held that the relinquishment of the assessee's share in the disputed property constituted a "transfer" under section 2(47) of the Income-tax Act. Additionally, the court found that the amount received was not exempt from capital gains tax under section 47(ii). Consequently, the court ruled in favor of the Department, concluding that the relinquishment of the property was subject to capital gains tax, and awarded costs of Rs. 250 to the Department. en-us Tue, 17 Aug 1982 00:00:00 +0530 Tue, 23 Feb 2010 18:04:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28580 The court held that the relinquishment of the assessee's share in the disputed property constituted a "transfer" under section 2(47) of the Income-tax Act. Additionally, the court found that the amount received was not exempt from capital gains tax under section 47(ii). Consequently, the court ruled in favor of the Department, concluding that the relinquishment of the property was subject to capital gains tax, and awarded costs of Rs. 250 to the Department. Case-Laws Income Tax Tue, 17 Aug 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28580