https://www.taxtmi.com/caselaws?id=217370 The High Court determined that the transfer of shares occurred on 22nd December, 1992, after fulfilling necessary conditions, leading to the appellant declaring capital gain in the subsequent assessment year. The court did not delve into the binding nature of Circulars issued by the CBDT due to the favorable finding on the transfer date. Additionally, the court upheld the respondent's entitlement to deduction under section 47(v) of the Income Tax Act, as the purchaser had become a holding company of the respondent, qualifying the transaction for the specified deduction. The appeal was dismissed in favor of the respondent. en-us Wed, 20 Jun 2012 00:00:00 +0530 Fri, 12 Oct 2012 21:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217370 The High Court determined that the transfer of shares occurred on 22nd December, 1992, after fulfilling necessary conditions, leading to the appellant declaring capital gain in the subsequent assessment year. The court did not delve into the binding nature of Circulars issued by the CBDT due to the favorable finding on the transfer date. Additionally, the court upheld the respondent's entitlement to deduction under section 47(v) of the Income Tax Act, as the purchaser had become a holding company of the respondent, qualifying the transaction for the specified deduction. The appeal was dismissed in favor of the respondent. Case-Laws Income Tax Wed, 20 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217370