https://www.taxtmi.com/caselaws?id=327899 The High Court determined that the consideration for the transfer of the Panasonic Division was Rs. 50.12 crores, including the amount diverted to the Assessee's shareholders. The Court held that the Assessee must recognize the entire consideration for tax purposes. The appeal was allowed in favor of the Revenue, answering the legal question affirmatively. The Court did not extensively address the applicability of Section 50 of the Income Tax Act as the Revenue did not pursue this issue. en-us Fri, 13 May 2016 00:00:00 +0530 Thu, 17 Nov 2016 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327899 The High Court determined that the consideration for the transfer of the Panasonic Division was Rs. 50.12 crores, including the amount diverted to the Assessee's shareholders. The Court held that the Assessee must recognize the entire consideration for tax purposes. The appeal was allowed in favor of the Revenue, answering the legal question affirmatively. The Court did not extensively address the applicability of Section 50 of the Income Tax Act as the Revenue did not pursue this issue. Case-Laws Income Tax Fri, 13 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327899