https://www.taxtmi.com/caselaws?id=20571 The High Court upheld the Tribunal's decision, determining that the consideration received for the transfer of shares was correctly assessed at Rs. 50 per share. The court ruled in favor of the Revenue, concluding that the brothers had not incurred any actual loss in the transaction as the difference of Rs. 49 per share claimed as a loss was part of the consideration for the release of liabilities. The references were disposed of with no order as to costs. en-us Thu, 22 Apr 1993 00:00:00 +0530 Sat, 14 Nov 2009 17:10:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20571 The High Court upheld the Tribunal's decision, determining that the consideration received for the transfer of shares was correctly assessed at Rs. 50 per share. The court ruled in favor of the Revenue, concluding that the brothers had not incurred any actual loss in the transaction as the difference of Rs. 49 per share claimed as a loss was part of the consideration for the release of liabilities. The references were disposed of with no order as to costs. Case-Laws Income Tax Thu, 22 Apr 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20571