Capital gain not computable on execution of sale deed in favour of daughter-in law

Hanuman Prasad Tambi Vs ITO (ITAT Jaipur)

ITAT Jaipur held that capital gain not computable in respect of sale deed executed in favour of daughter-in law as it is only a gift to close relative and not a sale.

Facts- The assessee had sold immovable property for the total consideration of Rs.14.00 lacs which had been valued at Rs.25,68,900/- for the purpose of charging stamp duty and on verification of record, it had been found that the assessee had not filed the return of i

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