https://www.taxtmi.com/caselaws?id=325574 The High Court upheld the Tribunal's decision to accept the consideration disclosed by the respondent-assessee for computing long term capital gains on the sale of shares. The Court emphasized that the actual consideration received should be used for such calculations, as per Section 48 of the Income Tax Act, and found no grounds to substitute it with a market value. The appeal by the Revenue was dismissed as the disclosed consideration was deemed accurate, and no substantial question of law was raised. en-us Tue, 08 Mar 2016 00:00:00 +0530 Wed, 23 Mar 2016 09:55:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325574 The High Court upheld the Tribunal's decision to accept the consideration disclosed by the respondent-assessee for computing long term capital gains on the sale of shares. The Court emphasized that the actual consideration received should be used for such calculations, as per Section 48 of the Income Tax Act, and found no grounds to substitute it with a market value. The appeal by the Revenue was dismissed as the disclosed consideration was deemed accurate, and no substantial question of law was raised. Case-Laws Income Tax Tue, 08 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325574