https://www.taxtmi.com/highlights?id=69673 Capital gain - transfer of capital asset u/s 2(47) - gift of property by the assessee to his sister out of natural love and affection - Clause (iii) of section 47 of the Act exempts from the operation of section 45 all transfers under a gift or will or an irrevocable trust. Therefore, the transaction of gift under consideration is not to be regarded as transfer for the purposes of section 45. - AT en-us Tue, 09 May 2023 08:06:40 +0530 Tue, 09 May 2023 08:06:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=69673 Capital gain - transfer of capital asset u/s 2(47) - gift of property by the assessee to his sister out of natural love and affection - Clause (iii) of section 47 of the Act exempts from the operation of section 45 all transfers under a gift or will or an irrevocable trust. Therefore, the transaction of gift under consideration is not to be regarded as transfer for the purposes of section 45. - AT Highlights Income Tax Tue, 09 May 2023 08:06:40 +0530 https://www.taxtmi.com/highlights?id=69673