Registration of Family Settlement Not Required for Computing Capital Gains: Punjab & Haryana HC

The Punjab and Haryana High Court ruled that registration of a family settlement is not required for computing capital gains. The case involved a dispute where the tax authorities contended that the lack of registration invalidated the family settlement for capital gains purposes. The court held that as long as the family settlement is genuine and substantiated with evidence, its non-registration does not impact the computation of capital gains. This decision provides clarity on the treatment of family settlements in capital gains tax calculations, ensuring that taxpayers are not unduly penalized for procedural formalities.