https://www.taxtmi.com/caselaws?id=37883 The High Court ruled in favor of the assessee, affirming that the relinquishment deeds executed by his brothers constituted a transfer of their interests to him. This decision made the assessee eligible for exemption under Section 54 of the Income Tax Act, 1961. The court held that the deeds effectively transferred the title or interest of the brothers to the assessee, allowing him to claim the deduction of the property value released by his brothers from the capital gain. Costs were awarded against the revenue. en-us Wed, 01 Feb 1978 00:00:00 +0530 Thu, 01 Apr 2010 15:48:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37883 The High Court ruled in favor of the assessee, affirming that the relinquishment deeds executed by his brothers constituted a transfer of their interests to him. This decision made the assessee eligible for exemption under Section 54 of the Income Tax Act, 1961. The court held that the deeds effectively transferred the title or interest of the brothers to the assessee, allowing him to claim the deduction of the property value released by his brothers from the capital gain. Costs were awarded against the revenue. Case-Laws Income Tax Wed, 01 Feb 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37883