https://www.taxtmi.com/caselaws?id=433660 The case involved appeals by the Revenue against the ITAT's order regarding the capital gains tax liability of the Assessee for the assessment year 2008-09. The key issue was whether the transfer of shares and consideration received in 2007 should result in tax liability for that year, despite the actual transfer of shares occurring in 2013. The court ruled in favor of the Assessee, holding that since the transfer was not completed in the relevant assessment year based on the legal requirements for share transfer registration, the Assessee was not liable for capital gains tax. en-us Mon, 16 Jan 2023 00:00:00 +0530 Sat, 04 Feb 2023 14:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433660 The case involved appeals by the Revenue against the ITAT's order regarding the capital gains tax liability of the Assessee for the assessment year 2008-09. The key issue was whether the transfer of shares and consideration received in 2007 should result in tax liability for that year, despite the actual transfer of shares occurring in 2013. The court ruled in favor of the Assessee, holding that since the transfer was not completed in the relevant assessment year based on the legal requirements for share transfer registration, the Assessee was not liable for capital gains tax. Case-Laws Income Tax Mon, 16 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433660