https://www.taxtmi.com/caselaws?id=75923 The High Court upheld the decision of the Income Tax Appellate Tribunal, confirming the legality of the share sales and dismissing allegations of tax avoidance schemes. The judgment emphasized the company's right to sell shares to reduce liabilities, even to group companies, and found no evidence of unfair tax advantages. The Court highlighted the absence of substantial legal questions and reiterated that interference with the Tribunal's decision requires a showing of perversity, which was lacking in this case. en-us Wed, 28 Apr 2010 00:00:00 +0530 Thu, 03 Jan 2013 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75923 The High Court upheld the decision of the Income Tax Appellate Tribunal, confirming the legality of the share sales and dismissing allegations of tax avoidance schemes. The judgment emphasized the company's right to sell shares to reduce liabilities, even to group companies, and found no evidence of unfair tax advantages. The Court highlighted the absence of substantial legal questions and reiterated that interference with the Tribunal's decision requires a showing of perversity, which was lacking in this case. Case-Laws Income Tax Wed, 28 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75923