https://www.taxtmi.com/caselaws?id=37229 The High Court held that the sale of shares did not fall under Section 52 of the Income Tax Act, 1961, and the assessee was not liable to pay tax under Section 45. The Court agreed with the Tribunal's finding that there was insufficient evidence to prove the transfer was for tax avoidance. The decision favored the assessee, with no costs awarded. en-us Tue, 12 Dec 1978 00:00:00 +0530 Sat, 27 Mar 2010 15:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37229 The High Court held that the sale of shares did not fall under Section 52 of the Income Tax Act, 1961, and the assessee was not liable to pay tax under Section 45. The Court agreed with the Tribunal's finding that there was insufficient evidence to prove the transfer was for tax avoidance. The decision favored the assessee, with no costs awarded. Case-Laws Income Tax Tue, 12 Dec 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37229