https://www.taxtmi.com/caselaws?id=378233 An addition for alleged gift in kind of equity shares was deleted where the Revenue treated the shares as part of the undisclosed sale consideration for land. The Tribunal followed the coordinate bench and jurisdictional High Court in holding that, even if linked to the land transfer, the value represented consideration from transfer of a capital asset and was taxable in the year of transfer, not in the earlier assessment year in which the shares were received. The deletion of the addition for the year under appeal was therefore upheld. en-us Tue, 09 Apr 2019 00:00:00 +0530 Thu, 11 Apr 2019 13:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378233 An addition for alleged gift in kind of equity shares was deleted where the Revenue treated the shares as part of the undisclosed sale consideration for land. The Tribunal followed the coordinate bench and jurisdictional High Court in holding that, even if linked to the land transfer, the value represented consideration from transfer of a capital asset and was taxable in the year of transfer, not in the earlier assessment year in which the shares were received. The deletion of the addition for the year under appeal was therefore upheld. Case-Laws Income Tax Tue, 09 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378233