https://www.taxtmi.com/caselaws?id=367291 The court held that the successor company, not the firm, should bear the capital gains tax liability due to non-compliance with the conditions of Section 47(xiii)(b). The allotment of shares should be completed within the relevant previous year of succession. Both appeals were disposed of without costs, and the substantial question of law was answered in favor of the Revenue and against the Assessee. en-us Mon, 23 Jul 2018 00:00:00 +0530 Mon, 01 Oct 2018 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367291 The court held that the successor company, not the firm, should bear the capital gains tax liability due to non-compliance with the conditions of Section 47(xiii)(b). The allotment of shares should be completed within the relevant previous year of succession. Both appeals were disposed of without costs, and the substantial question of law was answered in favor of the Revenue and against the Assessee. Case-Laws Income Tax Mon, 23 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367291