https://www.taxtmi.com/caselaws?id=34279 The court ruled in favor of the appellant in part, directing the Revenue to calculate the tax based on the value of one share of the acquiring company at Rs. 147 for the computation of long term capital gains on the transfer of shares. The court disagreed with the Tribunal's decision to consider the market value of the acquiring company's shares, emphasizing the importance of fairness and reasonableness in valuation for tax purposes. The appellant's appeal was allowed in part, highlighting the need for consistency in determining the value of shares in similar cases. en-us Mon, 19 Apr 2004 00:00:00 +0530 Mon, 03 Aug 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34279 The court ruled in favor of the appellant in part, directing the Revenue to calculate the tax based on the value of one share of the acquiring company at Rs. 147 for the computation of long term capital gains on the transfer of shares. The court disagreed with the Tribunal's decision to consider the market value of the acquiring company's shares, emphasizing the importance of fairness and reasonableness in valuation for tax purposes. The appellant's appeal was allowed in part, highlighting the need for consistency in determining the value of shares in similar cases. Case-Laws Income Tax Mon, 19 Apr 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34279