https://www.taxtmi.com/caselaws?id=344562 The court held that the transfer of shares by the assessee company in pursuance of a family arrangement constituted a transfer liable to capital gains tax. The court emphasized the company's separate legal entity status, stating that it could not benefit from the family settlement that applied to individual family members. The court rejected arguments that the transfer was incidental to the family arrangement, ruling that the company, as an independent entity, was subject to tax obligations regardless of the family arrangement. The appeal was dismissed, affirming the tax liability on the transfer of shares by the company. en-us Mon, 12 Jun 2017 00:00:00 +0530 Mon, 05 Nov 2018 14:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344562 The court held that the transfer of shares by the assessee company in pursuance of a family arrangement constituted a transfer liable to capital gains tax. The court emphasized the company's separate legal entity status, stating that it could not benefit from the family settlement that applied to individual family members. The court rejected arguments that the transfer was incidental to the family arrangement, ruling that the company, as an independent entity, was subject to tax obligations regardless of the family arrangement. The appeal was dismissed, affirming the tax liability on the transfer of shares by the company. Case-Laws Income Tax Mon, 12 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344562