2012 (10) TMI 1160

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Naniwadekar with Atul K. Jasani ORDER 1. The questions of law raised by the Revenue in this appeal reads thus: (A) Whether the consideration received under the family settlement on transfer of right, title and interest in the family property is a transfer under Section 2(47) of the I.T.Act and liable to be taxed as Capital Gain under Section 45 of I.T.Act? (B) Whether on the facts and circu .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Court Receiver was only an interim relief of their share of income from the properties of G.D.Ambulkar, which right arose on account of their preexisting right in the properties as per Will of G.D. Ambulkar. Family arrangement is a device by which dispute between family members as to their respective property rights were settled. Such settlement may involve division of the property as between them .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X