Relinquishing property share to sisters is a transfer u/s 2(47), triggering capital gains tax per Section 45.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Relinquishment of the share of assessee in the property comprising of land in favour of sisters who is co-owner - whether was a transfer within the meaning of section 2(47) and capital gain accruing on such transfer was exigible to capital gains tax u/s. 45? - Held Yes - AT....