https://www.taxtmi.com/caselaws?id=425966 The court partially allowed the appellant's appeal, determining that under Section 48 of the Income Tax Act, the full value of consideration in the share sale should exclude the tax component. The court permitted a deduction of 50% of the tax component, proportionate to the appellant's shareholding, based on the share purchase agreement terms. This decision clarified that the tax component is not considered part of the full value of consideration for calculating capital gains, thus allowing the appellant a partial deduction. en-us Mon, 04 Jul 2022 00:00:00 +0530 Wed, 25 Oct 2023 12:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425966 The court partially allowed the appellant's appeal, determining that under Section 48 of the Income Tax Act, the full value of consideration in the share sale should exclude the tax component. The court permitted a deduction of 50% of the tax component, proportionate to the appellant's shareholding, based on the share purchase agreement terms. This decision clarified that the tax component is not considered part of the full value of consideration for calculating capital gains, thus allowing the appellant a partial deduction. Case-Laws Income Tax Mon, 04 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425966