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2014 (1) TMI 848 - AT - Income TaxDeletion made u/s 56(2)(vi) of the Act – Scope of Section 56(2)(vi) of the Act - Amount received was having consideration or not – Held that:- The divorce agreement was though entered in 1989-90 and monthly payments were promised to be paid to the assessee by husband – but he did not pay the same – the amount was paid by way of alimony only because they were husband and wife and appellant was spouse of the person who has paid the amount and, therefore, payment received from spouse did fall within the definition of relative - the amount was received against consideration of relinquishing her personal right of claiming monthly payments as provided under the divorce agreement. The assessee was to receive monthly alimony which was to be taxable in the each year from conclusion of divorce agreement but in this case monthly payments were not received and, therefore, were not offered tax - The receipt by the assessee represents accumulated monthly installments of alimony which has been received by the assessee as a consideration for relinquishing all her past and future claims - there was sufficient consideration in getting this amount - thus, section 56(2) (vi) is not applicable – the amount was a capital receipt not liable to tax – Decided against Revenue.
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