https://www.taxtmi.com/caselaws?id=110900 The Supreme Court ruled in favor of N.N. Nanda, directing that he be allotted the portion of the Golf Links property he occupied at the time of settlement, with the value adjusted against his share. The Court also decided that no deduction should be made for anticipated capital gains tax liability on the company's assets. If such a tax is imposed in the future, the respondent-company should challenge it with funds provided by the appellants, who would be liable for the tax. The matter was sent back to the High Court for implementation, with parties responsible for their own costs. en-us Fri, 13 Oct 2006 00:00:00 +0530 Fri, 16 Aug 2013 17:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110900 The Supreme Court ruled in favor of N.N. Nanda, directing that he be allotted the portion of the Golf Links property he occupied at the time of settlement, with the value adjusted against his share. The Court also decided that no deduction should be made for anticipated capital gains tax liability on the company's assets. If such a tax is imposed in the future, the respondent-company should challenge it with funds provided by the appellants, who would be liable for the tax. The matter was sent back to the High Court for implementation, with parties responsible for their own costs. Case-Laws Companies Law Fri, 13 Oct 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110900