https://www.taxtmi.com/caselaws?id=333153 The ITAT Bangalore ruled in favor of the appellant, directing the AO to delete the addition on account of the sale of shares for the assessment year 2008-09. The ITAT found that the transfer of shares was not complete as the share transfer forms were not handed over to the buyer during the relevant assessment year, emphasizing the necessity of delivering share certificates for a transfer to be deemed complete. The judgment cited legal precedents and the Sale of Goods Act in support of this decision, highlighting the importance of possession of share certificates for a valid transfer of shares. en-us Fri, 19 Aug 2016 00:00:00 +0530 Wed, 05 Oct 2016 14:47:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333153 The ITAT Bangalore ruled in favor of the appellant, directing the AO to delete the addition on account of the sale of shares for the assessment year 2008-09. The ITAT found that the transfer of shares was not complete as the share transfer forms were not handed over to the buyer during the relevant assessment year, emphasizing the necessity of delivering share certificates for a transfer to be deemed complete. The judgment cited legal precedents and the Sale of Goods Act in support of this decision, highlighting the importance of possession of share certificates for a valid transfer of shares. Case-Laws Income Tax Fri, 19 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333153