https://www.taxtmi.com/caselaws?id=261643 The Tribunal upheld the validity of the proceedings under section 158BD, confirming undisclosed capital gains from the sale of shares. It rejected the claim that site development expenses were part of the sale consideration, determining the entire Rs. 45,00,000 as consideration for the share transfer. Long-term capital gains were taxed in the year of transfer, based on documentary evidence. The Tribunal dismissed the assessees' appeals, affirming the Assessing Officer's findings and emphasizing the necessity of supporting claims with documentary evidence and taxing capital gains in the transfer year. en-us Fri, 10 Jul 2015 00:00:00 +0530 Sat, 18 Jul 2015 08:41:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261643 The Tribunal upheld the validity of the proceedings under section 158BD, confirming undisclosed capital gains from the sale of shares. It rejected the claim that site development expenses were part of the sale consideration, determining the entire Rs. 45,00,000 as consideration for the share transfer. Long-term capital gains were taxed in the year of transfer, based on documentary evidence. The Tribunal dismissed the assessees' appeals, affirming the Assessing Officer's findings and emphasizing the necessity of supporting claims with documentary evidence and taxing capital gains in the transfer year. Case-Laws Income Tax Fri, 10 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261643