https://www.taxtmi.com/caselaws?id=226216 RBI guidelines framed for FEMA compliance and addressed to authorised dealer banks could not be used by income-tax authorities to substitute the actual share sale consideration for capital gains purposes. The authorities had no basis to enhance the declared price in the absence of adverse material showing that the stated consideration was unreal or sham, particularly where RBI had granted approval and the purchaser had accepted the agreed rate. The declared sale consideration of Rs. 390 per share was therefore accepted and the addition was deleted. en-us Fri, 12 Apr 2013 00:00:00 +0530 Mon, 22 Apr 2013 08:05:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=226216 RBI guidelines framed for FEMA compliance and addressed to authorised dealer banks could not be used by income-tax authorities to substitute the actual share sale consideration for capital gains purposes. The authorities had no basis to enhance the declared price in the absence of adverse material showing that the stated consideration was unreal or sham, particularly where RBI had granted approval and the purchaser had accepted the agreed rate. The declared sale consideration of Rs. 390 per share was therefore accepted and the addition was deleted. Case-Laws Income Tax Fri, 12 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=226216