https://www.taxtmi.com/caselaws?id=217128 The Tribunal held that the entire consideration of Rs. 86.25 lakh from the sale of shares should be taxed as capital gains in the year of transfer, rejecting the CIT (Appeals) decision to tax only Rs. 60.00 lakh. The Tribunal emphasized the application of sections 45(1) and 48 of the Income Tax Act, ruling in favor of the revenue authority's assessment. Consequently, the appeal was allowed, and the Assessing Officer's order was reinstated. en-us Fri, 17 Feb 2012 00:00:00 +0530 Thu, 04 Oct 2012 02:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217128 The Tribunal held that the entire consideration of Rs. 86.25 lakh from the sale of shares should be taxed as capital gains in the year of transfer, rejecting the CIT (Appeals) decision to tax only Rs. 60.00 lakh. The Tribunal emphasized the application of sections 45(1) and 48 of the Income Tax Act, ruling in favor of the revenue authority's assessment. Consequently, the appeal was allowed, and the Assessing Officer's order was reinstated. Case-Laws Income Tax Fri, 17 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217128