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Lump sum alimony is a capital receipt and therefore not taxable
Case Law Details
- Case Name
- Shrimati Roma Sengupta Vs. CIT (Calcutta High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 1997-98
- Courts
- All High Courts, Calcutta High Court
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Shrimati Roma Sengupta the assessee herein married Mr D Chowdhury in the year 1966. The marriage was dissolved on 12th January 1994 by a decree of divorce passed in Mat Suit Number 626 of 1993. The assessee filed her return of income for the assessment year 1997-98 disclosing an income of Rs.44,870/- and long-term capital gain consequent to sale of 50% of her share in the matrimonial house at 25, Mandeville Gardens, Calcutta sold at Rs.22,81,500/- and sought to deduct 50% of the cost of acquisition amounting to Rs.5, 18,002/-. The assessee claimed exemption u/s 54 of the Act with respect to th...
