https://www.taxtmi.com/caselaws?id=781688 ITAT MUMBAI - AT held that amounts received by the assessee for withdrawing a pending civil suit over inheritance of immovable property were capital receipts, not taxable as capital gains. Because the settlement occurred before the HC adjudicated the right to the property, no vested right or transfer of a capital asset under s.2(14) read with s.2(47) arose. Payment was for securing a title free of encumbrances and assurance against pursuing estate claims; therefore the receipt is not chargeable as capital gains and the assessee's grounds were allowed. en-us Tue, 04 Nov 2025 00:00:00 +0530 Fri, 22 May 2026 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781688 ITAT MUMBAI - AT held that amounts received by the assessee for withdrawing a pending civil suit over inheritance of immovable property were capital receipts, not taxable as capital gains. Because the settlement occurred before the HC adjudicated the right to the property, no vested right or transfer of a capital asset under s.2(14) read with s.2(47) arose. Payment was for securing a title free of encumbrances and assurance against pursuing estate claims; therefore the receipt is not chargeable as capital gains and the assessee's grounds were allowed. Case-Laws Income Tax Tue, 04 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781688