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2012 (10) TMI 1160 - HC - Income TaxCapital Gain under Section 45 - Consideration received under the family settlement on transfer of right, title and interest in the family property - transfer under Section 2(47) - Held that:- ITAT following the decision of the Apex Court in the case of Maturi Pullaiah and Anr. v. Maturi Narasinham and ors. [1966 (3) TMI 81 - SUPREME COURT] held that there is no transfer of assets in the family arrangement and the amount received by the assessee is part of the family arrangement and not towards the transfer of any capital assets and hence no Capital Gains Tax liability arises. In our opinion, the decision of the ITAT is based on finding of facts, hence no question of law arises.
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