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Sec 2(47)

(Querist) 06 July 2012 This query is : Resolved 
SIR,
I WANT TO KNOW THAT u/s 2(47)(i) WHAT IS THE MEANING OF RELINQUISHMENT OF THE ASSET.
WHO ARE THE PERSONS COVERED IN RELINQU.:-
A) RELATIVE
B) OTHER THAN RELATIVE
C) BOTH THE PERSONS
Report Abuse
Ganesh babu (Expert) 14 May 2013
Relinquishment is included within the meaning of the word ‘transfer’ only for the purpose of assessment to be made for levying capital gain tax and not for other purposes - Tamil Nadu Civil Supplies Corporation Ltd. v. CIT [1997] 228 ITR 399 (Mad.).

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