https://www.taxtmi.com/caselaws?id=767604 Bona fide family settlements between close relatives, made to preserve family peace and realign rights in jointly held property, are not to be recharacterised as taxable transfers merely because reciprocal settlement deeds are executed. The analysis states that the two deeds could not be artificially clubbed as an exchange, particularly where the instruments were executed as settlement deeds and the stamp duty treatment supported that character. On that basis, the arrangement fell within the accepted principle that a genuine family arrangement is not a transfer for capital gains purposes, and the capital gains additions were unsustainable. en-us Mon, 17 Mar 2025 00:00:00 +0530 Fri, 21 Mar 2025 08:25:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767604 Bona fide family settlements between close relatives, made to preserve family peace and realign rights in jointly held property, are not to be recharacterised as taxable transfers merely because reciprocal settlement deeds are executed. The analysis states that the two deeds could not be artificially clubbed as an exchange, particularly where the instruments were executed as settlement deeds and the stamp duty treatment supported that character. On that basis, the arrangement fell within the accepted principle that a genuine family arrangement is not a transfer for capital gains purposes, and the capital gains additions were unsustainable. Case-Laws Income Tax Mon, 17 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767604