https://www.taxtmi.com/caselaws?id=193039 The Tribunal ruled in favor of the assessees, holding that Section 50C of the Income Tax Act, 1961 does not apply to the transfer of shares, deleting the addition made by the AO based on stamp duty valuation. Additionally, the Tribunal rejected the AO's addition of separate payment to the sale consideration, considering it as repayment of liabilities rather than additional consideration. The capital gains were treated as long term instead of short term, and the alternative claim for substitution of indexed cost was dismissed as moot. Ultimately, the appeals were allowed, and the assessees' positions were upheld. en-us Fri, 21 Jun 2013 00:00:00 +0530 Mon, 10 Jul 2017 17:12:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193039 The Tribunal ruled in favor of the assessees, holding that Section 50C of the Income Tax Act, 1961 does not apply to the transfer of shares, deleting the addition made by the AO based on stamp duty valuation. Additionally, the Tribunal rejected the AO's addition of separate payment to the sale consideration, considering it as repayment of liabilities rather than additional consideration. The capital gains were treated as long term instead of short term, and the alternative claim for substitution of indexed cost was dismissed as moot. Ultimately, the appeals were allowed, and the assessees' positions were upheld. Case-Laws Income Tax Fri, 21 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193039