https://www.taxtmi.com/caselaws?id=246085 The Tribunal upheld the indirect transfer of property through accounting techniques to avoid tax, emphasizing the harmonious reading of Income-tax Act provisions. The grounds raised by the assessee were considered adequately addressed, dismissing the claim of non-disposal. The Tribunal found no error in its order regarding the assessability of capital gain and applicability of section 47(xiii), distinguishing a previous case. The issue of indexation of the cost of acquisition was to be considered on merit in further proceedings. The assessing officer was tasked with determining and calculating interest liability under sections 234B and 234C on capital gain in compliance with the law. en-us Fri, 06 Dec 2013 00:00:00 +0530 Wed, 16 Apr 2014 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246085 The Tribunal upheld the indirect transfer of property through accounting techniques to avoid tax, emphasizing the harmonious reading of Income-tax Act provisions. The grounds raised by the assessee were considered adequately addressed, dismissing the claim of non-disposal. The Tribunal found no error in its order regarding the assessability of capital gain and applicability of section 47(xiii), distinguishing a previous case. The issue of indexation of the cost of acquisition was to be considered on merit in further proceedings. The assessing officer was tasked with determining and calculating interest liability under sections 234B and 234C on capital gain in compliance with the law. Case-Laws Income Tax Fri, 06 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246085