https://www.taxtmi.com/caselaws?id=17051 The Tribunal ruled that no capital gain was chargeable on the sale of shares as they belonged to the Government and were transferred to the assessee at zero cost of acquisition as a moral gesture. The Tribunal's decision was upheld by the High Court, which found that the Tribunal correctly applied the law and referred to relevant precedents. The application u/s 256(2) of the IT Act, 1961 by the Revenue was rejected as no further questions of law needed to be addressed. en-us Tue, 26 Aug 1997 00:00:00 +0530 Mon, 14 Sep 2009 18:17:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17051 The Tribunal ruled that no capital gain was chargeable on the sale of shares as they belonged to the Government and were transferred to the assessee at zero cost of acquisition as a moral gesture. The Tribunal's decision was upheld by the High Court, which found that the Tribunal correctly applied the law and referred to relevant precedents. The application u/s 256(2) of the IT Act, 1961 by the Revenue was rejected as no further questions of law needed to be addressed. Case-Laws Income Tax Tue, 26 Aug 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17051