https://www.taxtmi.com/caselaws?id=288682 The High Court dismissed the Revenue's appeal regarding the addition of Rs. 3.22 crores to the declared sale consideration for transferring shares in a company. The court held that the amount was to be paid to the company, not the assessee, as per the agreement clause, making the addition unjustified. Additionally, the court affirmed the lower authorities' decisions on the nature of income declared by the assessee, finding no substantial question of law regarding whether it should be classified as capital gains or business income. Both appeals were dismissed, and the application was rejected. en-us Thu, 17 May 2018 00:00:00 +0530 Tue, 23 Jun 2020 09:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288682 The High Court dismissed the Revenue's appeal regarding the addition of Rs. 3.22 crores to the declared sale consideration for transferring shares in a company. The court held that the amount was to be paid to the company, not the assessee, as per the agreement clause, making the addition unjustified. Additionally, the court affirmed the lower authorities' decisions on the nature of income declared by the assessee, finding no substantial question of law regarding whether it should be classified as capital gains or business income. Both appeals were dismissed, and the application was rejected. Case-Laws Income Tax Thu, 17 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288682