https://www.taxtmi.com/caselaws?id=28392 The High Court dismissed the original petitions challenging the rejection of the petitioners' contention regarding the conditional nature of the share transfers and the absence of capital gains tax liability. The court upheld the legal effect of the share transfer agreement, emphasizing that each lot transferred conferred full title to the shares to the transferees upon completion. The court also noted the petitioners' inconsistent stance on capital gains tax liability as reflected in their income tax returns. en-us Wed, 15 Sep 1982 00:00:00 +0530 Mon, 22 Feb 2010 12:05:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28392 The High Court dismissed the original petitions challenging the rejection of the petitioners' contention regarding the conditional nature of the share transfers and the absence of capital gains tax liability. The court upheld the legal effect of the share transfer agreement, emphasizing that each lot transferred conferred full title to the shares to the transferees upon completion. The court also noted the petitioners' inconsistent stance on capital gains tax liability as reflected in their income tax returns. Case-Laws Income Tax Wed, 15 Sep 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28392