https://www.taxtmi.com/caselaws?id=220945 The Tribunal held that Section 50C of the Income Tax Act does not apply to the transfer of shares in a company owning immovable property, as shares are not directly assessed by Stamp Duty Authorities. The additional amount paid by transferees for clearing company liabilities was not considered part of the sale consideration for computing capital gains. The issue of indexation was dismissed as academic, and lifting the corporate veil was deemed unjustified. Consequently, the appeals were partly allowed in favor of the assessees. en-us Wed, 02 Jan 2013 00:00:00 +0530 Fri, 15 Feb 2013 06:58:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220945 The Tribunal held that Section 50C of the Income Tax Act does not apply to the transfer of shares in a company owning immovable property, as shares are not directly assessed by Stamp Duty Authorities. The additional amount paid by transferees for clearing company liabilities was not considered part of the sale consideration for computing capital gains. The issue of indexation was dismissed as academic, and lifting the corporate veil was deemed unjustified. Consequently, the appeals were partly allowed in favor of the assessees. Case-Laws Income Tax Wed, 02 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220945