https://www.taxtmi.com/caselaws?id=65049 The Tribunal dismissed the appeal, affirming the tax liability of the assessee for the transaction involving the conversion of shares between two companies. The decision was based on the interpretation of the term "transfer" under sections 2(47) and 47 of the Income Tax Act, with a specific focus on the inapplicability of section 47(vii) to the conversion arrangement. The Tribunal's analysis emphasized the broader understanding of the term "transfer" and highlighted the necessity for consistent tax treatment in different types of corporate arrangements. en-us Mon, 31 Dec 2001 00:00:00 +0530 Fri, 11 Feb 2011 18:38:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65049 The Tribunal dismissed the appeal, affirming the tax liability of the assessee for the transaction involving the conversion of shares between two companies. The decision was based on the interpretation of the term "transfer" under sections 2(47) and 47 of the Income Tax Act, with a specific focus on the inapplicability of section 47(vii) to the conversion arrangement. The Tribunal's analysis emphasized the broader understanding of the term "transfer" and highlighted the necessity for consistent tax treatment in different types of corporate arrangements. Case-Laws Income Tax Mon, 31 Dec 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65049