https://www.taxtmi.com/caselaws?id=11001 The court upheld the Tribunal's determination that the assessee received additional consideration beyond the declared value of Re. 1 for the transfer of shares, justifying the valuation under Section 52(2) of the Income-tax Act. The court found that the fair market value of the shares exceeded Rs. 20 per share, and additional benefits received constituted consideration for capital gains tax purposes. The appeal was dismissed with no costs awarded. en-us Sat, 29 Nov 2003 00:00:00 +0530 Wed, 29 Jul 2009 11:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11001 The court upheld the Tribunal's determination that the assessee received additional consideration beyond the declared value of Re. 1 for the transfer of shares, justifying the valuation under Section 52(2) of the Income-tax Act. The court found that the fair market value of the shares exceeded Rs. 20 per share, and additional benefits received constituted consideration for capital gains tax purposes. The appeal was dismissed with no costs awarded. Case-Laws Income Tax Sat, 29 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11001