https://www.taxtmi.com/caselaws?id=66716 The Tribunal allowed the appeal, holding that Section 52(1) was not applicable as the transfer was made to acquire controlling interest in a company. Section 52(2) was also deemed inapplicable as the transaction was bona fide, with the consideration including the controlling interest. The Tribunal emphasized that Section 52(2) aims to address understated considerations, which was not the case. Consequently, the Tribunal set aside the AAC's decision, affirming the correct computation of capital gains by the assessee on the share transfer. en-us Tue, 29 Jan 1974 00:00:00 +0530 Sat, 05 Mar 2011 18:25:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66716 The Tribunal allowed the appeal, holding that Section 52(1) was not applicable as the transfer was made to acquire controlling interest in a company. Section 52(2) was also deemed inapplicable as the transaction was bona fide, with the consideration including the controlling interest. The Tribunal emphasized that Section 52(2) aims to address understated considerations, which was not the case. Consequently, the Tribunal set aside the AAC's decision, affirming the correct computation of capital gains by the assessee on the share transfer. Case-Laws Income Tax Tue, 29 Jan 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66716