https://www.taxtmi.com/caselaws?id=220523 The Supreme Court set aside the High Court's judgments concerning interest under section 16B and the applicability of section 16B(3) in relation to gift tax on revocable transfer of equity shares. It did not decide whether interest was chargeable or whether section 16B(3) applied on the facts. Both questions were remitted to the High Court for de novo consideration on merits, leaving the controversy open for fresh adjudication. The appeals were allowed and no order as to costs was made. en-us Tue, 22 Jan 2013 00:00:00 +0530 Fri, 28 Jun 2013 14:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220523 The Supreme Court set aside the High Court's judgments concerning interest under section 16B and the applicability of section 16B(3) in relation to gift tax on revocable transfer of equity shares. It did not decide whether interest was chargeable or whether section 16B(3) applied on the facts. Both questions were remitted to the High Court for de novo consideration on merits, leaving the controversy open for fresh adjudication. The appeals were allowed and no order as to costs was made. Case-Laws Income Tax Tue, 22 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220523