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of <h1>Assessee liable for long-term capital gains on share sale per Madras HC ruling.</h1> <h3>SMT. P.S. VASANTHA Versus COMMISSIONER OF INCOME TAX</h3> The Madras HC held that the assessee is liable for long-term capital gains on the sale of shares, considering the buyer's price for share calculation. The ... - The Madras High Court considered whether the assessee is liable for long-term capital gains on the sale of shares. The decision was based on a previous case ruling that the price paid for shares by the buyer should be considered for calculating capital gains. The judgment favored the Revenue and no costs were awarded.
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