https://www.taxtmi.com/caselaws?id=799053 Agreements concerning jointly held ancestral land did not establish a transfer of the assessee's capital asset for long-term capital-gains purposes. The land covered by the joint development arrangement was allotted to other family members under the subsequent agreement and final partition decree, while the assessee retained land allotted to his own share. The factual finding of no transfer was supported by the record and was not perverse; deletion of the long-term capital-gains additions was therefore sustained. en-us Tue, 08 Sep 2026 00:00:00 +0530 Wed, 16 Sep 2026 08:38:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799053 Agreements concerning jointly held ancestral land did not establish a transfer of the assessee's capital asset for long-term capital-gains purposes. The land covered by the joint development arrangement was allotted to other family members under the subsequent agreement and final partition decree, while the assessee retained land allotted to his own share. The factual finding of no transfer was supported by the record and was not perverse; deletion of the long-term capital-gains additions was therefore sustained. Case-Laws Income Tax Tue, 08 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799053