Court Rules Profit from Asset Transfer Belongs to Company, Not Directors; AO's Additions Upheld. https://www.taxtmi.com/highlights?id=36399 Transfer of trading assets at cost price, the profit component also stood transferred to the outgoing Directors, which otherwise belonged to the Company - the fact that AO has made the addition in the hands of the Directors would not make any difference - additions confirmed - HC en-us Fri, 22 Sep 2017 13:47:28 +0530 Fri, 22 Sep 2017 13:47:28 +0530 TaxTMI RSS Generator Court Rules Profit from Asset Transfer Belongs to Company, Not Directors; AO's Additions Upheld. https://www.taxtmi.com/highlights?id=36399 Transfer of trading assets at cost price, the profit component also stood transferred to the outgoing Directors, which otherwise belonged to the Company - the fact that AO has made the addition in the hands of the Directors would not make any difference - additions confirmed - HC Highlights Income Tax Fri, 22 Sep 2017 13:47:28 +0530 https://www.taxtmi.com/highlights?id=36399