https://www.taxtmi.com/caselaws?id=243015 The Tribunal partly allowed the appeals by overturning the decisions of the CIT(A) concerning the interpretation of section 50C of the Income Tax Act. It held that section 50C does not apply to the transfer of shares in a company, as shares do not represent direct ownership of immovable property. The Tribunal also ruled in favor of the appellant regarding the addition of separate payments in the sale consideration and the treatment of capital gains as long term based on the nature of the transaction. Alternative claims for indexed cost were dismissed as irrelevant. en-us Wed, 22 Jan 2014 00:00:00 +0530 Sat, 25 Jan 2014 15:10:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243015 The Tribunal partly allowed the appeals by overturning the decisions of the CIT(A) concerning the interpretation of section 50C of the Income Tax Act. It held that section 50C does not apply to the transfer of shares in a company, as shares do not represent direct ownership of immovable property. The Tribunal also ruled in favor of the appellant regarding the addition of separate payments in the sale consideration and the treatment of capital gains as long term based on the nature of the transaction. Alternative claims for indexed cost were dismissed as irrelevant. Case-Laws Income Tax Wed, 22 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243015