Father of six Kevin Docherty received what was originally thought to have been life-threatening injuries after an alleged stabbing incident yards from his home.
Emergency services were called to the scene in the early hours of Friday morning after Mr Docherty was involved in a dispute with a neighbour in Alba Road.
Neighbours said that they awoke to find a heavy police presence on the street, with one saying: “There were forensic officers carrying out test on the road.”
Confirming the incident last night a Police Scotland spokesman said: “We were called to the scene just past midnight at around 12.30am.
“A 48-year-old man has been injured and taken to Dr Gray’s Hospital with serious injuries. A 43-year-old man has been detained.”
People in the area said that the two men and their wives had been close friends but Mr Docherty’s had parted from his wife last year.