https://www.taxtmi.com/caselaws?id=31539 The Tribunal upheld the levy of capital gains on land acquired by the Government from the appellant for the assessment years 1990-91 and 1991-92. The Court found that the acquisition of property in the course of amalgamation did involve payment of consideration in the form of fully paid shares. The matter was remanded to the Assessing Officer for fresh consideration after verifying the terms of the amalgamation approved by the High Court, emphasizing the adoption of the value fixed by the Tribunal to avoid further litigation on this issue. en-us Tue, 08 Apr 2008 00:00:00 +0530 Sat, 22 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31539 The Tribunal upheld the levy of capital gains on land acquired by the Government from the appellant for the assessment years 1990-91 and 1991-92. The Court found that the acquisition of property in the course of amalgamation did involve payment of consideration in the form of fully paid shares. The matter was remanded to the Assessing Officer for fresh consideration after verifying the terms of the amalgamation approved by the High Court, emphasizing the adoption of the value fixed by the Tribunal to avoid further litigation on this issue. Case-Laws Income Tax Tue, 08 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31539