No capital Gain Tax on Gift of Immovable Property to Sister

Sanjay Bansal Vs ITO (ITAT Delhi)

The transfer/ gift deed available at pages 85-140 of the Paper Book reveals that the transfer/ gift deed is made and executed on 19.11.2008 between Shri Sanjay Bansal and Smt. Manju Garg. It is mentioned in the recital that the transferor/ donor is the allottee, lessee and in possession of the said property duly allotted by the Noida Authority; that the lease deed in respect of the property has been executed by the Noida Authority in favour of the transferor as lessee for the term of 90 year

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