Partition of family properties does not amount to transfer, when there is no transfer of asset

HIGH COURT OF PUNJAB AND HARYANA Commissioner of Income-tax-II, Jalandhar Versus Ashwani Chopra IT APPEAL NOS. 353 TO 356 OF 2011 JANUARY 10, 2013 ORDER Hemant Gupta, J. This order shall dispose of afore-mentioned four appeals filed under Section 260-A of the Income Tax Act, 1961 (for short ‘the Act’) arising out of an order passed by the Learned Income Tax Appellate Tribunal, Amritsar Bench, Amritsar in respect of Assessment Year 2007-08. However, for facility of reference the facts are taken from ITA No.354 of 2011. 2. The Revenue has raised the following substa...