https://www.taxtmi.com/caselaws?id=218701 The appeal challenged the Commissioner of Income Tax (Appeals)'s order enhancing the assessment for the Assessment Year 2005-06 based on short term and long term capital gains. The Tribunal held that the market value of shares cannot be considered the full value of consideration for capital gains calculation when no understatement of sale consideration is suspected. The appeal was allowed in favor of the assessee, emphasizing the importance of actual consideration received in determining tax liability under the Income-tax Act, 1961. en-us Wed, 08 Aug 2012 00:00:00 +0530 Fri, 23 Nov 2012 08:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218701 The appeal challenged the Commissioner of Income Tax (Appeals)'s order enhancing the assessment for the Assessment Year 2005-06 based on short term and long term capital gains. The Tribunal held that the market value of shares cannot be considered the full value of consideration for capital gains calculation when no understatement of sale consideration is suspected. The appeal was allowed in favor of the assessee, emphasizing the importance of actual consideration received in determining tax liability under the Income-tax Act, 1961. Case-Laws Income Tax Wed, 08 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218701