https://www.taxtmi.com/caselaws?id=779284 ITAT DELHI (AT) allowed the appeal, holding that the sum received by the assessee as owelty for her share in an undivided ancestral property on transfer does not constitute taxable long-term capital gain. The tribunal found no merit in the Revenue's contention and, following applicable HC precedent, reversed the lower authorities' addition of the impugned LTCG. The assessment order treating the owelty amount as taxable was set aside. en-us Mon, 20 Jan 2025 00:00:00 +0530 Fri, 03 Oct 2025 08:30:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779284 ITAT DELHI (AT) allowed the appeal, holding that the sum received by the assessee as owelty for her share in an undivided ancestral property on transfer does not constitute taxable long-term capital gain. The tribunal found no merit in the Revenue's contention and, following applicable HC precedent, reversed the lower authorities' addition of the impugned LTCG. The assessment order treating the owelty amount as taxable was set aside. Case-Laws Income Tax Mon, 20 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779284