https://www.taxtmi.com/caselaws?id=464183 A bona fide family settlement implemented after the death of the family head was treated as a realignment of pre-existing family rights, not a taxable transfer for the difference between stamp duty value and stated consideration. The property was held through a family-owned company, and the deed was executed only to give effect to the settlement and meet registration requirements. Because the arrangement was genuine and intended to resolve family claims and preserve harmony, the transaction was taken within the exclusion for property received under a will or by way of inheritance. The resulting addition under section 56(2)(vii) was therefore not sustainable. en-us Wed, 07 Sep 2022 00:00:00 +0530 Thu, 09 Oct 2025 20:48:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464183 A bona fide family settlement implemented after the death of the family head was treated as a realignment of pre-existing family rights, not a taxable transfer for the difference between stamp duty value and stated consideration. The property was held through a family-owned company, and the deed was executed only to give effect to the settlement and meet registration requirements. Because the arrangement was genuine and intended to resolve family claims and preserve harmony, the transaction was taken within the exclusion for property received under a will or by way of inheritance. The resulting addition under section 56(2)(vii) was therefore not sustainable. Case-Laws Income Tax Wed, 07 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464183